India Blockchain Week to Return for Second Edition: All Details

The event is said to take place between November 30 and December 8.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 17 October 2024 18:22 IST

India Blockchain Week to Return for Second Edition: All Details

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India reportedly holds over 12 percent of the world’s Web3 developers

Highlights

Web3 community sees India as home to talented developers
Industry insiders believe India is at unique inflection point with Web3
Indian government is wary of crypto but keen on blockchain

Web3 venture firm Hashed Emergent is reviving India Blockchain Week (IBW) for its second edition, aiming to spotlight India's early-stage Web3 developers and companies. Sponsors include prominent Web3 firms like Polygon, Aptos, Starkware, and the Starknet Foundation, alongside other platforms. Investors from various Indian cities will connect with startups seeking funding to accelerate their growth.

This initiative includes several events designed for startups and developers to showcase their Web3 protocols. Highlights include the IBW Chain-Agnostic Hackathon, IBW Web3 Demo Day, and ETH India Hackathon, among others.

The event is scheduled to take place between November 30 to December 8.

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“India is home to incredibly talented developers and leaders who are advancing web3 in remarkable ways,” Avery Ching, the co-founder and CTO of Aptos Labs said in an official statement. San Francisco-based Aptos Labs provides people with access to tools and services related to Web3 technologies.

Chiming in with Ching, Monad Labs' CEO Keone Hon said, “India is at a unique inflection point in Web3 adoption, with its thriving developer community, commitment to entrepreneurship, and pace of economic activity.” Monad Labs works towards advancing blockchain technology and is based in New York, US.

Despite India's cautious stance on fully integrating cryptocurrency into its financial system, the country has consistently expressed interest in exploring blockchain technology. Often positioned as an alternative to Web2 servers, blockchain not only ensures the permanent security of information but also divides data into smaller packets, enhancing protection against hacks and data loss. This technology is also known as Distributed Ledger Technology (DLT).

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Recently, India's IT ministry launched the Vishvasya Technology Stack to provide Blockchain-as-a-Service (BaaS) through data centers across Pune, Hyderabad, and Bhubaneswar. Several state governments have also implemented blockchain to refine their data keeping.

According to a report by KPMG India and Hashed Emergent, India is playing a key role in global blockchain growth, accounting for over 12 percent of the world's Web3 developers and hosting more than 1,000 startups. Hashed Emergent expects the IBW Conference in Bangalore this December to serve as a crucial platform for dialogue between policymakers and industry experts, helping chart a roadmap for India's future in the sector.

Last year's IBW featured prominent speakers like Ethereum co-founder Vitalik Buterin, Sebastien Borget from The Sandbox, and Charles Guillemet from Ledger.

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Further reading: Cryptocurrency, India Blockchain Week, Polygon, Aptos, Starkware

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More