CoinSwitch unveils ‘Web3 for India’ initiative at T-Hub in Hyderabad

IT and Industries Principal Secretary Jayesh Ranjan, T-Hub CEO Srinivas Rao Mahankali and CoinSwithc Co-founder and CEO Ashish Singhal launched the first edition of ‘India’s Next Big Frontier: Web3’.

Hyderabad: Crypto investing app CoinSwitch unveiled ‘Web3 for India’, an initiative to highlight how India’s startup ecosystem can create the next big opportunity using blockchain, at T-Hub in Hyderabad.

IT and Industries Principal Secretary Jayesh Ranjan, T-Hub CEO Srinivas Rao Mahankali and CoinSwithc Co-founder and CEO Ashish Singhal launched the first edition of ‘India’s Next Big Frontier: Web3’, a handbook featuring early-stage Indian startups solving real-world problems spanning agriculture, agri-finance, transport, and record management.

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“India is home to over 12,000 blockchain developers, one of the highest in the world. Web3 companies raised forty-nine new rounds of funding in 2021, and the momentum of deals continues to be strong this year too. In line with our vision to become India’s blockchain capital, Telangana wants to play a key role in shaping India’s Web3 story. We welcome CoinSwitch’s ‘Web3 for India’ initiative,” said Jayesh.

“We intend to establish Telangana and T-Hub as the go-to location for students, entrepreneurs, VCs, universities, corporates and Web 3.0 enthusiasts. Telangana has one of the best engineering talents to build the Web 3.0 Network,” said T-Hub’s Rao.

“Web3 is the future of the Internet. India’s young technologists are quietly building tools and applications that would, in the long run, transform how India does commerce and business,” CoinSwitch’s Singhal.

In December last year, CoinSwitch, in partnership with the Government of Telangana and innovation management firm Lumos Labs, launched the India Blockchain Accelerator, one of the first State-supported programmes to support blockchain startups. It selected 14 early-stage for the mentorship and financing programme, release said.