As India braces itself to get its crypto laws hopefully in December, several states in the country are taking brisk steps to establish themselves as lucrative locations for Web3 entrants to set their shops. Recently, India’s crypto-focussed group of industry players called the Bharat Web3 Association (BWA) has signed an MoU with the Maharashtra State Skills University (MSSU). The aim of this partnership is to make Maharashtra ready to host the Web3 ecosystem comprising of players in the sectors of cryptocurrency, NFTs, and the metaverse among others.
The announcement of this MoU was made on Wednesday, November 15. Moving forward, both parties involved will engage in initiatives around skill enhancement, education, and research in the Web3 arena while making young Indians ready to be employed in the sector.
“This Memorandum of Understanding reflects our shared commitment to advancing the Web3 ecosystem in India through a fusion of academic excellence and industry acumen. As we embark on this journey, the Bharat Web3 Association is excited about the possibilities that lie ahead, envisioning a future where skilled talent thrives and contributes to our nation’s digital economy,” said Dilip Chenoy, BWA Chairperson commenting on the development.
The BWA has members from several crypto players like CoinSwitch and CoinDCX among other. Formed in December 2021, the organisation aims to bridge the gap between the crypto industry as well as the policymakers of the country.
In a 2022 report, Nasscom had said that 11 percent of the world’s Web3 talent, especially developers, resides in India. Hence, for Mumbai-based MSSU, it seems only natural to show interest in training students in Web3 branches that may get them jobs sooner that other competitive tech fields.
The government of Maharashtra has also meanwhile been trying to test the Web3 waters. It has already been trying to stitch NFTs into its health data storage using the Algorand blockchain. Last year, the revenue department of Maharashtra also decided to move all records to blockchain to make sure they are tamper-proof.