Does India’s latest move mean support for the idea of a crypto-friendly future?
MeitY’s initiative introduces crypto token-based document signatures to revolutionize online interactions
The development announcement was a part of the launch of the Indian Web Browser Development Challenge . The IWBDC is an open competition aimed at creating a native web browser. The browser would have its distinct trust store, advanced functionalities, and heightened security and data privacy safeguards.
The proposed browser is set to empower secure transactions through the utilization of crypto tokens for document signatures. The government also highlighted the crucial aspect of the incorporation of “support for Web3” within the browser’s feature set. By doing so, India aims to stay aligned with the evolving landscape of web technologies and decentralized applications. The IWBDC carries a prize pool of approximately $400,000, with a deadline of July 1, 2024.
This move also underscores India’s commitment to Web3 technologies, aimed at integrating blockchain and decentralized applications into mainstream online experiences. Despite the absence of legislation for cryptocurrencies in India, this initiative reveals its dedication to embracing technological advancements.
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