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What is Bharat Web3 Association BWA, and how is it helping grow the Web3 ecosystem.

| November 17, 2023

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India has been a major force serving as one of the innovation powerhouses during the last few decades and today has close to 700 million active internet users. With startups booming in every corner of the country and faster adoption of Web3 services, this new vanguard of entrepreneurship and technology saw great leaders coming together to support the growth of Web3.

Let’s know more about it-

“Technology is best when it brings people together.”

— Matt Mullenweg, Social Media Entrepreneur

What is Bharat Web3 Association, a.k.a BWA?

Bharat Web3 Association is the apex body for India’s premier Web3 technology firms. As the name suggests, this endeavour intends to promote and aid the growth of the third Internet revolution, Web3. The word “Bharat” refers to the country of India. Besides, this organisation seeks to collaborate with the government to establish system stability for the Indian cryptocurrency ecosystem.

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In order to keep up with the developing Web3 technology, the Bharat Web3 Association will conduct research to increase awareness and acceptance. Additionally, it will aim to build India’s talent pool and establish standardised norms for Web3 businesses. BWA will further promote consumer interests by increasing communication among important players and driving innovations in the category.

The association also hopes to engage with the government to create a cooperative regulatory framework for digital assets during the forthcoming G20 discussions.

Who are the members of BWA?

Bharat Web3 Association is founded by prominent members of the Indian Web3 ecosystem (BWA). It is led by the founders of Liminal, ZebPay, Coinbase, Hike, WazirX, CoinDCX, CoinSwitch Kuber, Polygon, Coinbase, ANQ Finance, Biconomy, and Tax Nodes. Besides, members of the BWA come from a range of domains, including NFTs, Web3 Gaming, Infrastructure Providers, Virtual Digital Assets (VDAs), and Token Projects.

What is the“Nation Building Vision”?

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The association very much believes in the power of blockchain technology and draws a picture of India, where it will take the leap of decades in a matter of a few years. And to make this happen, consumers will play a big role by owning a piece of the platforms they helped create. BWA mentioned India would be well-positioned to benefit from this new internet avatar as its digital economy rises to $1 trillion over the next years.

The association adds, Ownership is a tool to accrue value and is of great use in the real world.

The association envisions each platform utilising blockchain technology in its own way to empower users to become owners and create a more inclusive platform from an economic standpoint. Their vision reminds us of clawing the powers back to the people.

Just like Democracy! Just like Decentralization!

Liminal being a part of this ecosystem, would like to offer products and services that make usage of blockchain accessible, simple and faster for its users. Learn more about Liminal here.

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