PM Modi Champions Global Framework for Crypto and Web3 Innovations
With increased rules and technological improvements, India’s crypto and web3 ecosystem has made considerable strides. India has made the necessary noises to ensure that its G20 presidency reflects its commitment to using digital technologies for economic growth and global leadership in the fast growing crypto and web3 area, according to a report by NDTV Gadgets360.
Prime Minister Narendra Modi advocated for a uniform global framework for crypto, AI, and other new technologies during a historic speech at the B20. Modi’s position emphasises the importance of acknowledging rapid technological breakthroughs and prioritising adoption and democratisation.
In a similar vein, Rahul Pagidipati, CEO of ZebPay, discussed the Indian regulatory landscape and web3 trends, underlining the importance of balanced rules to enable innovation while guaranteeing responsibility. “Web3’s decentralised and transparent nature has the potential to revolutionise industries such as finance, supply chain management, and even governance,” he was quoted in a report by Gadgets360. “Web3 startups may use blockchain to build systems that are safe, efficient, and tamper-proof.”
India is leading the G20 consortium’s push for a comprehensive global crypto regulatory system. India’s proposal seeks international collaboration to manage digital assets while guaranteeing consistency and avoiding risks. This effort demonstrates India’s commitment to inclusive crypto governance by supporting equitable representation for developing economies in influencing the evolving digital world.
Pagidipati emphasised the significance of global collaboration in developing a regulatory framework when discussing India’s G20 presidency. “The initiation of crypto-specific global discussions demonstrates India’s commitment to fostering a secure and innovative digital economy,” he said. To handle the difficulties and opportunities provided by digital assets, nations must work together.”
Pagidipati also mentioned the rapid emergence of decentralised finance (DeFi) protocols when discussing web3 trends in India. These platforms fundamentally alter traditional financial services by eliminating intermediaries and enabling individuals to engage in lending, borrowing, and trading activities with one another directly. “As virtual worlds and digital assets within the metaverse become more prevalent,” Pagidipati continues, “we anticipate novel use cases for blockchain technology.”
Keywords: pm modi, crypto, blockchain
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