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  • It was said that forty influential individuals had signed up for the forum so far.
  • There will be a Web 3.0 regulatory sandbox, as promised by the Telangana government.

The trading and dealing of digital assets in India have been met with several regulatory obstacles. But some very important people in the sector decided to start the India Blockchain Forum so that the country could catch up with the rest of the world.

Authorities in the state of Telangana reportedly created the blockchain consortium in Hyderabad with the goal of turning the country into a center for the Web 3.0 industry. It was said that forty influential individuals had signed up for the forum so far.

Wide Scale Adoption Measures

It was also said that the Blockchain forum’s ultimate goal is to establish specialized interest groups in industries like the Metaverse and Central bank digital currency (CBDC). The blockchain forum’s secondary objective is to participate in the policymaking process for effective blockchain adoption.

There will soon be a Web 3.0 regulatory sandbox, as promised by the Telangana government. This opens the door for new businesses to provide services for tokenizations, NFT, and other initiatives. Using the Sandbox, they may network with relevant parties, such as policymakers and regulators.

The mission of the India Blockchain Forum is to organize local chapters all throughout the nation to educate people about Web 3.0. They also stated their openness to collaborating with academics and other research organizations. The report claims that the Blockchain Forum will begin accepting stakeholder applications for membership. They will now begin their campaign to build the biggest Web 3.0 community ever.

While this is happening, the Indian government and Central Bank have been cautious about the widespread adoption of digital assets across the nation. When the global crypto market crashed because of the Terra LUNA crisis, the opinions of government authorities were amplified.

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