Tag: web3

Account Abstraction Could Onboard Billions of Asians to Web3, Experts Predict: Here’s What It Means

Asia, the largest continent comprising 51 nations, is garnering the attention of Web3 players from different parts of the world, owing to its diverse market. ‘Account abstraction’ or Blockchain-based smart accounts could be the next thing that could onboard billions of Asians onto Web3, industry experts seem to believe. Essentially, account abstraction is a blockchain technology that lets users use smart contracts as their primary accounts.

More Web3 players and dApps developers are customising their products in alignment with the needs and popular patterns of the Asian market. The observation was highlighted by Laura Shi, the director of strategic initiatives at ConsenSys, during a recent interview with CoinTelegraph. ConsenSys is an Ethereum software solutions provider.

In the coming times, account abstraction or smart accounts could gain popularity as they would not only keep account details invisible on the Ethereum blockchain, but also allow users to control and decide how individual accounts are operated and managed.

This would add more layers of security to the financial activities being processed on the Ethereum blockchain.

Shi reportedly said that account abstraction brings more customisable functionality to financial activities while also offering more traditional bank-like features than usual crypto wallets.

Vitalik Buterin, the creator of the Ethereum blockchain, first proposed the concept of account abstraction back in September 2021.

Its adoption in Asia is being foreseen now, as Asian nations are tech savvy and the scope of experimenting with new technologies ranges from the gaming industry to the finance industry.

Last year’s Chainalysis Global Crypto Adoption Index said that Vietnam, Philippines, Thailand, China, and India are among the top drivers of Web3 growth on the continent. The report had also highlighted that in the second quarter of 2022, 58 percent of web traffic from Asian nations to crypto services was NFT-related. Another 21 percent traffic was related to play-to-earn blockchain games.

This year, Japan, too, has embraced the Web3 sector with open arms, inviting Web3 players to setup shop in the country.

The combined region of Central & Southern Asia and Oceania (CSAO) was the third largest cryptocurrency market last year. Residents of nations in these regions reportedly generated $932 billion (roughly Rs. 75,09,170 crore) in cryptocurrency value from July 2021 to June 2022.

Owing to these factors among others, Shi believes, blockchain use cases will continue to entice people.

From the Nothing Phone 2 to the Motorola Razr 40 Ultra, several new smartphones are expected to make their debut in July. We discuss all of the most exciting smartphones coming this month and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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Web3, Crypto are Future of Internet, but Lack of Regulations Can Stir Chaos: IT Minister Rajeev Chandrasekhar

Authorities in India seem to be warming up to the crypto sector, as we get closer to December when India’s G20 Presidency will conclude, hopefully with a detailed set of regulations to govern the sector. Rajeev Chandrasekhar, the Union Minister of State for Electronics and Information Technology, has acknowledged that crypto and Web3 are indeed, elements of the next generation of Internet. Having said that, the minister did add that rules and regulations are most needed to govern the space to make it safe for everybody to use and engage with.

Chandrasekhar, 59, was speaking on a podcast hosted by Indian YouTuber Ranveer Allahbadia when he said that the topic of cryptocurrencies has come up for discussion several times among the policy makers of India.

“Crypto, Web3, and Blockchain we cannot fight because it is the inevitable future of the Internet,” he said while emphasising on the utmost need for regulations in the sector.

As per the IT minister, crypto and Web3 without a guard have the capability of creating chaos and has a scope for misuse by notorious elements.

“On crypto, while everybody loves the technology, we think that the issue of INR to dollar conversions, that whole fungibility, exchange, and money transfer needs to be governed by some bond. And unfortunately, in India what happened, as well in the US, billions of dollars have been lost with the (industry) meltdown,” Chandrasekhar said, notably referring to the collapse of FTX and Terra last year, that left the crypto sector dry for months as investors flocked to safer, more traditional investment options.

FTX, the US-based crypto platform succumbed to liquidity crunch and shook-up the crypto market in November last year, leading to the wipe-off of nearly $200 billion (roughly Rs. 16,40,298 crore) from the market. The drastic reaction from investors who pulled back capital from digital assets, left several crypto firms gasping for breath.

In a December report last year, research firm Glassnode estimated that around 550,000 Bitcoin had left crypto exchanges in 2022. At the time, BTC was trading at $16,858 (roughly Rs. 13.9 lakh) that bought the value of 550,000 to $9.2 billion (roughly Rs. 76,760 crore).

Chandrasekar said, concerns had begun to brew when Indians started looking at Bitcoin and other cryptocurrencies as speculative assets, betting on how their prices would go up or down to churn profits.

“People started saying, how much is BTC today, how much will it be day after tomorrow, instead of saying I want to use BTC to transact my finances. So, when it became a speculative asset class in a bubble, the government had to intervene and say no. And as a matter of fact, the way we (India) approached it way back in March 2022, was the reason why many young Indians saved themselves from the meltdown that happened afterwards,” the minister noted.

In India, crypto profits are taxed by 30 percent, a rule that went live in March last year. In addition, one percent TDS is also deducted at each transaction in order to keep some trace of these largely anonymous fund transfers.

At this point, India is spearheading the formulation of global rules to regulate this volatile digital asset space as the President of the G20 group. Clarity on the situation is expected by December this year.

“Crypto is a great area, I encourage innovations to continue there – but it certainly needs some global rules before it could be widely used,” Chandrasekar added.

From the Nothing Phone 2 to the Motorola Razr 40 Ultra, several new smartphones are expected to make their debut in July. We discuss all of the most exciting smartphones coming this month and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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Clothing Brand Lacoste Forays Deeper Into Web3 Exploration, Brings NFT Rewards System

Lacoste, a French designer brand that has been pro-Web3 for a while already, is stepping into deeper waters with its blockchain exploration. The company has decided to add more functionality to its NFT ecosystem, that it first brought to life in June 2022 with its UNDW3 collection. Lacoste wants to reward the holders of these 11,212 UNDW3 NFTs, which is what its new reward system is all about. The brand sees a long-term vision for integrating more Web3 elements to its operations and identity.

Lacoste wishes to let the holders of its ‘Genesis Pass’ UNDW3 NFTs be treated with special creative sessions, video games, exclusive contests, as well as interactive conversations with fellow community members.

Interested holders of Lacoste’s last year’s NFTs will have to connect their digital wallets to a dedicated site, UNDW3.lacoste.com, to unlock these rewards.

“Beyond the fleeting trends surrounding NFTs and the metaverse, we see blockchain as an accelerator, ushering in a more inclusive and experiential digital realm. By rewarding creators and fostering horizontal relationships with our customers, we invite them into our creative process,” Forbes quoted Lacoste deputy CEO Catherine Spindler as saying.

As the participators increase their activities on the rewards site, they’ll earn leadership points and in-turn, enhance the rarity quotient of their NFTs.

“The holders of the Lacoste UNDW3 Card will have the mission to solve quests, engage with the brand, and unlock exclusive benefits that will only be accessible to Lacoste UNDW3 Card holders. Every week, raffles will be organised for all community members, with the opportunity to win exclusive rewards (merchandise, digital twins, etc.),” Lacoste’s new website mentioned.

The more a member engages with the brand, the more they will get a decision-making say in the future of the brand.

In recent days, several fashion brands have taken their first steps into the metaverse and NFT arenas.

In March this year, Adidas, Tommy Hilfiger, and Vogue Digital took part in the Metaverse Fashion Week (MVFW) 2023. The virtual event was hosted by Decentraland, where over 60 fashion brands, both physical as well as digital native ones, showcased their spring collections on the digital runway.

To bridge the gap between digital and physical fashion, SYKY has initiated a one-year incubator programme that will help digital designers make improvements to their skills. The virtual fashion platform has onboarded the British Fashion Council, Vogue’s creative editorial director Mark Guiducci, and Calvin Klein’s chief marketing officer Jonathan Bottomley to be part of the mentor panel established by SYKY to assist its group of up-and-coming designers.

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Telangana Government Onboards Digital Wallet Liminal on Web3-Focussed Advisory Panel: Details

The government of Telangana is accelerating efforts to foster the growth of Web3 initiatives as India, along with several other nations, decide on rules to govern the up-and-coming sector. Liminal, a digital wallet service provider, has become the latest Web3 firm to be onboarded onto Telangana government’s Web3 advisory body on Wednesday, June 14. This Web3 regulatory sandbox aims to help budding initiatives to grow in India’s hyper competitive and diverse market.

Founded in 2021, Liminal offers an automated wallet solution that works across various blockchain protocols.

The company now joins India’s non-government Web3 body, the Bharat Web3 Association (BWA) to be part of Telangana’s blockchain-related plans.

“We strongly believe that it will act as a catalyst to bring blockchain to the grassroots. The model created by the Telangana government can be replicated by other state governments to deliver blockchain-based efficient governance for the people in their respective states. This will also help in creating more startups in the states and create more jobs for the youth by strengthening the Startup India program,” said Manan Vora, Senior Vice President, Business Strategy and Operations at Liminal, in a prepared statement.

This advisory body will select promising Web3 projects brewing in the Telangana state and provide management guidance, technical support, and business strategy for creating a sustainable business model.

The authorities of Telangana have already established a Blockchain district in Hyderabad city to become a hotspot for Web3 discussions and activities.

“We believe that Web3 regulatory sandbox will help startups in navigating the regulatory landscape. We are highly optimistic about the future of Web3/blockchain and want to leverage it for the benefit of mankind,” Jayesh Ranjan from the Telangana government noted.

India’s Telangana state is looking to introduce blockchain-based solutions to make activities related to farming more eco-friendly.

In April this year, the Telangana government partnered with Algorand blockchain to bring environment-friendly services to farmers. The state wishes to usher farmers to participate in organic farming, agroforestry, crop rotation, and solar power harvesting — all of which support reduction in greenhouse gas emissions and carbon sequestration, which is the process of capturing and storing atmospheric carbon dioxide to prevent excessive emissions.

The Telangana government had signed a Memorandum of Understanding (MoU) with the BWA in February this year. The role of the BWA in Telangana’s Web3 advisory panel is to facilitate the implementation of Web3-related policies.

Back in December 2021, the Telangana government had also inked deals with crypto exchange CoinSwitch Kuber and innovation management firm Lomos Labs to launch a ‘Blockchain Accelerator’ plans to give Web3 startups the necessary assistance to succeed.

Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts. 
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Louis Vuitton Jumps on Web3 Wagon, Set to Launch Signature Travel Trunk as NFT

The ongoing year, up until now, has proven to be profitable for the non-fungible tokens (NFTs) sector. Hopping onboard the NFT frenzy, Louis Vuitton has decided to offer its loyalists a virtual treat. The French high-end luxury brand will transform its iconic travel trunk in the form of a digital collectible. With this, the brand will establish its presence in the NFT space, following the ongoing advertisement trend of making products go ‘phygital’ — physical as well as digital.

“Designed for those who seek to travel through new dreams and new realities,” the NFT has been priced rather outlandishly at €39,000 (roughly Rs. 34 lakh).

Called the VIA Treasure Trunk, this permanent and non-transferable NFT will grant its holders an exclusive access to the brand’s design house, Maison. Holders will also be able to get glimpses of LV’s never-seen-before designs.

For now, LV has not disclosed exactly how many of these signature trunk NFTs it plans to launch. At least a “few hundred” of them are planned, a CoinTelegraph report said on Tuesday, May 6.

People interested in purchasing this NFT will need to register with a legitimate crypto wallet and join the wait list starting June 8.

LV will later invite select people from the waitlist to visit an exclusive preview page for this NFT on June 14.

This is not the first time, however, that LV has forayed into the Web3 space.

Previously, the brand had joined forces with Prada and Cartier on the aura Blockchain solution, created by luxury brands to refresh the customer experience.

The brand has also released a metaverse game for players to look for 30 hidden NFTs as a tribute to its founder.

Amid the ongoing Web3 expansion, several brands are selling NFTs of their signature products, matching them with the original product.

High-end luxury brands including Nike, Gucci, Dolce & Gabbana bagged a total of $260 million (roughly Rs. 2,074 crore) with the sales of their NFT pieces in 2022, Dune Analytics had reported last year.

A new research report also claimed that the utility of NFTs in the Web3 world is the top reason why tech-savvy investors are turning their attention towards buying digital collectibles. The second most major reason why NFTs appeal to the buyers is the element of long-term profits that they hold.

NFT sales reportedly rose by a massive 117 percent in February 2023. Around March, the valuation of the global NFT market climbed to its nine-month high since June last year to over $2 billion (roughly Rs. 17,200 crore).

Apple’s annual developer conference is just around the corner. From the company’s first mixed reality headset to new software updates, we discuss all the things we’re looking forward to seeing at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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Nike Partners EA Sports to Bring Exclusive NFT Collection to Gamers: Details

In a rather pro-Web3 move, Nike has struck a partnership with EA Sports hoping to be able to push elements of Web3 like cryptocurrencies and NFTs, deeper into the international gaming ecosystem. The shoes and athleisure brand Nike has been experimenting with digital collectibles or NFTs for quite some time now. As for EA Sports, the US-based game publisher behind world-famous titles like FIFA and F1 among others, and has a player-base of over 150 million as per Statista.

As part of this deal, Nike’s Web3 platform called ‘.Swoosh’ will provide its users access to exclusive NFT collections inspired by EA Sports games, which boast a massive community of fans across the globe.

“Nike Virtual Studios and EA SPORTS are today announcing a new partnership aimed at enhancing and personalising the virtual sports experience for fans all over the world. In future EA Sports titles, EA Sports and Nike plan to make select .Swoosh virtual creations available allowing members and players unique new opportunities for self-expression and creativity through sport and style,” an official blog by Nike said.

The companies announced the development officially on Twitter on June 1.

Nike is expected to make its EA Sports-focussed NFTs, customisable. These NFTs would include wearable merchandises inspired by teams within the games. Players will be able to purchase these Nike NFTs to tweak their virtual avatars.

The option to engage with NFTs, most of which are bought with cryptocurrencies, will now reach millions of players who are part of the EA Sports community, which could significantly boost Web3 adoption.

Other prominent players from the gaming sector are also looking at Web3 to refresh the existing video game ecosystem.

Previously, Sony has also filed for patents pertaining to the integration of digital assets and NFTs to its offerings and services.

Over 55 percent of the global gaming community resides in Asia. The continent contributes over $72 billion (roughly Rs. 5,88,229 crore) in annual gaming revenue.

A Chainalysis report also recently highlighted that in the second quarter of 2022, 58 percent of web traffic from Asian nations to crypto services was NFT-related. Another 21 percent traffic was related to play-to-earn blockchain games.

Hence in recent times, the blockchain gaming market in Japan has specifically garnered major interest of the gaming industry.

Apple’s annual developer conference is just around the corner. From the company’s first mixed reality headset to new software updates, we discuss all the things we’re looking forward to seeing at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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Malicious Links Costed Crypto Investors Upto $4 Million in Losses: Google Ads Data

Crypto investors have lost up to $4 million (roughly Rs. 35 crore) by engaging with hoax links, sprawled all over the web, according to the information extracted from analysing Google Ads data. Unfortunately, the web is flooded with such malicious links, which when interacted with can drain the hard-earned savings from the victims. ScamSniffer, a cyber security service provider, has published its findings in a recent report highlighting the current situation around Web3 scams.

Notorious scammers looking to steal money via online means spread infected links usually leading to fraud websites. These fake sites are infamous for prompting visitors on disclosing the credentials of the digital wallets.

ScamSniffer, in its findings, said that the number of malicious URLs floating around on the web have surged in recent times.

“ScamSniffer has investigated multiple cases where users clicked on malicious ads and were directed to fraudulent websites. Investigation into the keywords used by victims has uncovered numerous malicious ads at the forefront of search results. Most users, unaware of the deceptive nature of search ads, click on the first available option, leading them to malicious websites,” the handle of the cyber security firm said.

Google has deployed multiple review processes to scan advertisements for any suspicious links. Hackers, however, have cracked ways to breach Google’s safety layers.

Scammers have started getting around security layers like parameter distinction and debugging prevention via tampered links that appear to be a legitimate webpage or activity.

An estimated 3,000 victims fell prey to crypto scams in the last one year by interacting with suspicious links.

The majority chunk of these stolen crypto tokens was later found to have engaged with Binance US, KuCoin crypto exchange, and legally troubled crypto mixer Tornado Cash

The team of developers at ScamSniffer have suggested some improvements that Google Ads can consider implementing to safeguard the global crypto community against financial risks.

“Recommended improvements for @GoogleAds include the integration of a Web3-focused malicious website detection engine and continuous monitoring of landing pages throughout the ad placement lifecycle,” the security firm noted.

Xiaomi launched its camera focussed flagship Xiaomi 13 Ultra smartphone, while Apple opened it’s first stores in India this week. We discuss these developments, as well as other reports on smartphone-related rumours and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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Gemini Crypto Exchange Sets Up Office in Gurugram, Plans to Expand Work With Indian Engineers: Report

Gemini, a US-based crypto exchange, is gearing up to work with Indian engineering talent as it expands its presence in Asia, according to a report. The company has reportedly set up an office in Gurugram and is actively scouting to onboard software developers and technical product heads from India. These new hires will work on Web3, decentralised finance (DeFi), Non-Fungible Tokens (NFT), and Decentralised Autonomous Organisations (DAO) technologies. In recent years, several crypto firms including Coinbase and Algorand have been moving their focus on getting Indian developers to join their teams.

Gemini is planning to make India its second largest hub for engineering, according to a TechAsia report. Pravjit Tiwana has reportedly been appointed as the CEO for Gemini’s Asia-Pacific (APAC) operations. he was previously global chief technology officer (CTO) at the crypto exchange.

As part of his responsibilities, Tiwana will handle Gemini’s products and services in the APAC region, as per the report. Along with India, Gemini is also looking to expand its services in Singapore. After surviving last year’s crypto winter, Gemini found itself in a cash-crunch. At the time, its founders Tyler Winklevoss and Cameron Winklevoss invested $100 million (roughly Rs. 820 crore) of their own funds.

Asian nations like India, China, Japan, and South Korea are witnessing massive interest from Web3 firms. Recently, Bitget, a Seychelles-based crypto exchange, launched a Web3 fund worth $100 million (roughly Rs. 819 crore) in Asia.

While Japan is being touted as a crucial market for the Web3 gaming sector, India is being looked at for its diverse workforce of young engineers. The country is projected to produce over five million software engineers this year.

In 2022, Coinbase chief Brian Armstrong visited India to pitch jobs in the sector to engineers studying in top colleges and universities in the country.

Earlier this month, Anil Kakani, the Vice President and the India Country Head at Algorand Foundation told Gadgets 360 that onboarding as many Indian developers as possible onto the Web3 wagon is crucial for the development of the sector.

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Utility, Long Term Profits Top Two Reasons Making People Buy NFTs: Report

Non-fungible tokens (NFTs), that are digital collectibles built on blockchains, have puzzled outsiders of the Web3 world on — why someone would invest thousands or millions on buying images or GIFs at all? Well, a new research report claims that the utility of NFTs in the Web3 world is the top reason why tech-savvy investors are turning their attention towards buying digital collectibles. Mostly, NFTs are engageable with metaverse ecosystems that makes them usable for trading and liquidity purposes. For gaming ecosystems, NFTs also unlocks several privileges and rewards for their holders.

Over three hundred members of the NFT community participated in this survey conducted by GoinGecko and the Blockchain Research Lab. Out of these, 77.6 percent NFT holders justified their purchases for using these digital collectibles for their functions and utility quotient.

The second most major reason why NFTs appeal to the buyers is the element of long-term profits that they hold.

More than just cartoonish-images or small media files, most NFTs hold a financial value that could yield profits in the long term for their holders. Each NFT collection has its supply and rarity criteria, that distinguishes them from competing NFTs and plays a role in its value increasing or decreasing with time.

Other factors linked to the NFTs like their specific use cases, their creators, or artists associated with them also weigh in on the pricing shift for these digital collectibles over time.

Out of all who were surveyed for this report, 76.1 percent responders saw NFTs as long term investment tools.

“NFTs are increasingly being accepted as an inevitable development in the digital world. Not only are NFTs popular among crypto holders, with over 75 percent owning at least one NFT, but traditional industry brands also have NFT collections,” the report said.

In recent years, several big brands across industries have released their NFTs in order to engage with the new age customers. These brands include Gucci, Lamborghini, and Pumaamong others.

It was estimated that a total of $260 million (roughly Rs. 2,074 crore) were collectively bagged by high-end luxury brands including Nike, Gucci, Dolce & Gabbana with the sales of their NFT pieces last year.

Many NFT buyers are also known to re-sell their collectibles in exchange for cash or other NFTs.

Apart from their utility and investment quotient, there a bunch of other reasons also why members of the Web3 community are continuing to pour investments on them.

These include intrigue to experiment with the new technology, gaining a stake in the NFT parent company, or promoting social welfare and contributing to charities.

Interestingly, 59 percent NFT buyers claimed they indulge in the space to disrupt established structures and industries.

NFT sales reportedly rose by a massive 117 percent in February 2023. Around March, the valuation of the global NFT market climbed to its nine-month high since June last year to over $2 billion (roughly Rs. 17,200 crore).

Smartphone companies have launched many compelling devices over the first quarter of 2023. What are some of the best phones launched in 2023 you can buy today? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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Web3 Fund Worth $100 Million Launched for Asia Growth by Bitget Exchange

Web3-centric initiatives have begun to gather pace in Asian nations, with countries like Hong Kong and Japan grabbing spotlights. Bitget, a Seychelles-based crypto exchange, has decided to enter the situation with a proposal to offer $100 million (roughly Rs. 819 crore). The company has initiated a self-funded pool of capital to help promising Web3 projects emerging from Asia. The next iteration of Internet as we know today, Web3 comprises of next-gen technologies like blockchain, cryptocurrencies, metaverse, and non-fungible tokens (NFTs). Unlike the centralised and censorship prone Web2, Web3 boasts more independency of content ownership as well as better transparency status.

“The launch of Bitget Web3 Fund is a continuation of our ongoing efforts to drive the adoption of crypto and Web3, reflecting our ‘Go beyond derivative’ strategy in 2023,” a Coindesk report quoted Gracy Chen, Managing Director of Bitget, as saying.

The amount of this Web3 funding could alter, depending on how many projects impress Bitget with their Web3 innovations and solutions.

Developers working in the sectors of blockchain gaming and metaverse design could emerge as beneficiaries of this Web3-focussed grant. Protocols around decentralised finance (DeFi) could also apply for funding from this grant after clearing their pitching rounds.

“We can see that Web3 space is evolving rapidly, and many projects deserve the support to further advance such development and make Web3 a truly global phenomenon, as Web2 had once become,” a CoinTelegraph report quoted Chen as saying.

The development comes after Japan, South Korea, and Hong Kong have shown a keen interest in exploring opportunities to grow their presence in the Web3 arena, which is still in its nascent stages.

Earlier this month, the Web3 team of the Japanese government recommended the creation of a sustainable tech ecosystem to incubate the up-and-coming fintech tools like crypto in an official whitepaper.

Paul Chen, Hong Kong’s financial secretary, has also said that this is the ‘right time’ to move ahead in Web3 development.

“The digital economy and the application of the third-generation Internet (Web3) have great development potential and have aroused positive responses from the society. This week alone, at least four large-scale seminars or carnivals related to Web3, digital economy, financial technology, etc. have been held in Hong Kong, and some of these events are expected to be attended by more than 10,000 people. In order for Web3 to steadily take the road of innovative development, we will adopt a strategy that emphasizes both ‘proper regulation’ and ‘promoting development’,” an official blog post by Chen said on Apil 9.

Other Asian countries like South Korea and India have managed to gain the attention of institutional investors.

In a recent report, Nasscom said that the Indian economy is expected to gain over a trillion dollars from the Web3 industry through the next decade.

Striking the iron when it’s hot, established Web3 firms have come forward to participate in the shaping-up of the tech ecosystem.

Companies like Solana, Binance, and Animoca among others are pouring heavy funding in Web3.

Japan’s ruling Liberal Democratic Party’s Web3 project team has published a white paper laying out recommendations for boosting the crypto industry in the country, which is part of Prime Minister Fumio Kishida’s strategy of promoting technology, a project called “Cool Japan.”

Smartphone companies have launched many compelling devices over the first quarter of 2023. What are some of the best phones launched in 2023 you can buy today? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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