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Breaking down India's crypto & Web 3.0 craze
PCQuest
|September 2022
A massive interest in cryptocurrency and Blockchain has fuelled a rapid transition towards Web 3.0, where we have witnessed exponential growth in interest especially in enablers like NFTS and the introduction of SBTs could be the final piece in the puzzle for the Web 3.0 ecosystem
Crypto has undoubtedly been on everyone's radar, regardless of the varied attitudes towards its growth or impact (yet) across industries and the mainstream. While the consensus on what kind of effect it really brings to our society is still shaping up, the data tell us how it is rapidly evolving and fuelling innovation across sectors attracting serious attention from diverse investors and governments, of course.
India has bagged the second position in crypto adoption worldwide, according to the 2021 Global Crypto Adoption Index by blockchain data platform Chainalysis. India is now only behind Vietnam but ahead of global powerhouses like the US, the UK, and China.
India's global crypto market, like other parts of the Internet economy, is powered by the growing requirement for transparency and decentralization of archaic structures of authority.
This story is from the September 2022 edition of PCQuest.
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