Web 3.0 a $1.1 trn growth opportunity for India

Web 3.0, the idea that the next iteration of the Internet which will be built on concepts of decentralisation, openness, and greater user utility, can help India contribute an additional $1.1 trillion of economic growth to its GDP over the next 11 years, new research from the US India Strategic Partnership Forum (USISPF) and digital currency exchange CrossTower has said.
Digital assets like Bitcoin, Ether, Solana, Algorand, stablecoins and other blockchains are the fuel of the future financial ecosystem and Web 3.0, the report said. In the first phase of its evolution, the Internet was driven by users consuming information. In the second phase, which is ongoing, users also became contributors with the advent of social media.