The Delhi chapter of Namaste Web3 — a Web3 education initiative of CoinDCX — concluded on a high note on Saturday, March 11
Namaste Web3 - the education and awareness drive initiated by CoinDCX and Forbes India, hosted its second event in Delhi on 11th March 2023 on the theme of “$5 trillion Indian economy: is web3 India’s next big thing?”, at The Imperial Hotel in New Delhi. The event discussed India's potential to become a leading player in the Web3 market. With a young population and programs like Digital India, Make in India, Startup India, and Atmanirbhar Bharat, India is poised to continue building its tech capability.
The event began with a welcome address by Manisha Gupta, Editor - Commodities & Currencies for CNBC-TV18 followed by the keynote address by Dr. Abhishek Manu Singhvi, MP, Rajya Sabha, Chair, Parliamentary Standing Committees on Commerce, Eminent Jurist.
While talking about the $5 trillion dollar economy and whether Web3 is India's next big thing, Dr. Singhvi said, “Web3 benefits from and boosts India's greatest asset: its technical talent…By 2023, it is projected to have the most developers too. The digital economy in India grew at 2.4x faster rate than the country’s overall economy between 2014 and 2019, and yet, we have only scratched the surface…Educational initiatives like Namaste Web3, which travels from city to city inviting tech enthusiasts and industry leaders to join the Web3 revolution, can be quite effective in informing the public about the potential benefits of blockchain-based finance.”
The keynote was followed by an opening address by Sumit Gupta, Founder & CEO, CoinDCX, where he put emphasis on how India is poised to be the global hub for Web3. Talking about the importance of Web3 and blockchain in a citizen centric ecosystem, Sumit said, "Fundamentally, the blockchain can solve a lot of challenges - whether it is how to build robust financial systems or how to build governance which is more citizen centric, gives more control over our data, privacy etc. Essentially, you own your data and identity. This is what web3 is all about. It's a new technology stack that's building a new internet."
Dilip Chenoy, Chairman, Bharat Web3 Association, followed up with a special address on Web3 Start-up Landscape : Creating New Business Models, commenting on the Web3 ecosystem he said, “talking about the whole web3 ecosystem, there are several used cases. If you look at the $30Bn in funding in this space in 2021, the venture capital sector has got immense trust and faith in this sector. I hope 2023 becomes a defining moment for India in the Web3 space and we leverage its full potential." ”