CoinSwitch unveils ‘Web3 for India’ at T-Hub to promote real-world use cases
Telugu Super news,Hyderabad,October 28th,2022: CoinSwitch, India’s leading crypto investing app, today unveiled ‘Web3 for India’ an initiative to highlight how India’s vibrant startup ecosystem can create the next big opportunity using blockchain for the nation — at T-Hub, a Hyderabad-based startup incubator.
The Crypto Unicorn, which is backed by blue-chip investors, including a16z, Sequoia Capital, and Tiger Global, aims to create awareness about real-world use cases of blockchain and crypto through this initiative.
Jayesh Ranjan, Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT) Departments of the Telangana government; Srinivas Rao Mahankali (MSR), CEO, T-Hub; and Ashish Singhal, Co-founder, and CEO, CoinSwitch, 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.
“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 and are pleased to launch this futuristic initiative in our state,” said Jayesh Ranjan, Principal Secretary — I&C and IT, Departments of the Telangana government.
Srinivas Rao Mahankali (MSR), CEO, T-Hub said, “T-Hub is proud to have partnered with Coin Switch- this is a huge step for the Web 3.0 Community. We intend to establish Telangana and T-Hub as the go-to location for students, entrepreneurs, VCs, Universities, Corporates and Web 3.0 Enthusiasts across the globe. Telangana has one of the best engineering talents to build the Web 3.0 Network. This is a globally relevant concept and as the world’s largest Innovation Hub, we would support in whatever way we can.”
“Web3 is the future of the Internet. From colleges to startup incubators, India’s young technologists are quietly building the tools and applications that would, in the long run, transform how India does commerce and business—and how they engage with each other on the Internet. While these technologies are cutting-edge and sophisticated, the solutions are designed such that the end user—be it a farmer, driver, or retail customer—can make use of them to solve day-to-day pain points. The ‘Web3 for India’ initiative aims to spread awareness about startups driving this silent Web3 revolution in India,” said Ashish Singhal, Co-founder, and CEO, CoinSwitch.
The initiative was launched on the sidelines of Block By Block, CoinSwitch’s Web3 community event.
In December 2021, CoinSwitch, in partnership with the Government of Telangana, and Lumos Labs, an innovation management firm, launched the India Blockchain Accelerator, one of the first state-supported programs aimed at supporting and equipping deep-tech blockchain startups in India. As part of its first-ever mentorship and financing program, the accelerator shortlisted 14 early-stage Web3 startups in May 2022. These include Whrrl, Print2Block, Emertech Innovations Pvt. Ltd, Blockster Labs Private Limited, The-Ally, Karpine, BirthVenue, Autify Network, The Indian Art Revolution (TIAR), Eventozo, Nibiaa Devices Pvt.Ltd., MentorPlus (M+), Konct, NFTready.tech. These startups provide blockchain use-cases in Fintech, Entertainment, Sustainability, Infrastructure and Tooling, Agritech, Logistics, and Healthcare.