Parliament of India Holds Discussion on Future of Web3
On June 8, the Parliament of India held a discussion on the future of Web3, a new wave of internet development based on decentralized data management and peer-to-peer communication. The panel was chaired by Shri Mansukh Mandaviya, Minister of State in the Ministry of Road Transport & Highways, Shipping and Chemical & Fertilizers.
During the discussion, experts discussed the opportunities and challenges offered by web 3.0 both in India and abroad. They noted that this will revolutionize technology applications in fields such as medical diagnostics, finance, government services, and education. It could also address issues of privacy, security, and access in countries with limited digital infrastructure. Panelists discussed the need for India to develop a regulatory framework in order to ensure responsible development and limit potential misuse.
The session concluded with the panelists underscoring the importance of an open, inclusive, and transparent approach to the development of web 3.0. Prime Minister Narendra Modi had shared his own vision of web 3.0 in 2018, where he spoke of its potential to “ensure more secure forms of transactions and more trustworthy digital systems and services.”