Telangana offers support for Web3 readers

The Telangana government has extended its support for the brand new Web3, a third generation web framework that advocates a decentralized delivery of the web, the ecosystem.

He asked start-ups working in this space and other stakeholders to provide feedback on what kind of support they might need to develop Web 3.0-based products and technologies. Addressing a Web 3.0 meeting here on Sunday, Telangana’s IT secretary, Jayesh Ranjan, discussed issues such as privacy and monetizing internet users’ digital footprints without their consent.

The way the internet has formed over the past few years, where big tech companies have monopolized the internet, there have been gross breaches of privacy, he said. “Although we don’t yet have a concrete framework or policy for Web3, we would like to become one of the first states to support this initiative.”

Three-pronged strategy

Stating that the Telangana government has been promoting new technologies since 2014 when the new state was formed, he said the government has followed a three-pronged strategy while announcing a policy framework. “We have developed a comprehensive policy after holding discussions with stakeholders and establishing an institution to implement the policy. To run the institute, we hire the right people,” he said.

“Our initiatives have now yielded encouraging results. The number of incubators increased to around 70 in 2022 from just two in 2014. The number of start-ups increased to 6,750 from 200 during the period,” he pointed out.

“Our approach will be exactly the same when it comes to Web3. We would love to hear feedback from the community. We will be happy if Hyderabad becomes an important center of Web3 globally,” he said.

Published on

April 18, 2022

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