Shri Ravi Shankar Prasad speaks on Web3's role in citizen-centric governance at Namaste Web3

Shri Ravi Shankar Prasad, former Union Minister and Senior Leader BJP

The Delhi chapter of Namaste Web3 – a Web3 education initiative of CoinDCX – concluded on a high note on Saturday, March 11. The event brought together over 250+ participants, including policymakers, industry experts, Web3 entrepreneurs, Web3 professionals, and Web2 professionals. The discussion and conversations echoed around the need to enhance policy cooperation and mobilising all stakeholders to leverage the $1.1 trillion opportunity that the Web3 industry presents to the Indian economy.

Shri Ravi Shankar Prasad, former Union Minister and Senior Leader BJP, made a special address on Web3's role in citizen-centric governance. Talking about Web3, he said, “Web3 is important but must be dealt with caution. Technology is always growing. Technology, particularly digital technology, is borderless. There is no limit to innovation there.”

He gave the example of the startup movement in India to put further emphasis on his point. “The startup movement in India started in 2015 with the vision of PM Narendra Modi, and today we have close to 1 lakh startups. Many of them are unicorns with $1B+ valuation. Many of them are run by young founders. That is the ecosystem that technology creates,” he said.

Further, while drawing on the success and achievements of the Digital India initiative, he mentioned that digital technology has an inbuilt capacity to encourage entrepreneurship, promote innovation, and provide an essence of fulfilment.

“Web3 has immense potential as the tool to deliver services in governance. To fit in India's Digital India plans, Web3 will have to be inclusive. It must be in a position to touch the lives of the commonest people of India,” he said.