The Blockchain protocol Algorand has launched an India specific project with new partnerships close to getting inked with educational institutes and state governments. By amitoj
) has entered the world’s most populous country, India, with a project that aims to support the nation’s transformation from the back office of the Web2 world to the innovation hub of the Web3 world, two senior representatives told CoinDesk. Millions of Indians take on outsourced work from Silicon Valley companies and global banks.
Launched on Wednesday, AlgoBharat won’t have a registered entity in India but will see a dedicated team focus on real world utility for blockchain in India with relevance for the rest of the world, the representatives said. The word Bharat represents the nation of India. “India was effectively the back office of Web2, right? The innovation might have been led somewhere else,” said Anil Kakani, a vice president and the India country head at the Algorand Foundation. “Blockchain use cases that have the greatest real world utility are happening here in India.”
For the past several weeks, Kakani and Nikhil Varma, the tech lead for AlgoBharat have been traversing the nation’s engineering universities and blockchain friendly states but have stayed clear of the rule makers. “We will certainly engage with regulators this year,” said Kakani, who was a senior adviser for India at the U.S. Treasury. “We have been understanding the appetite for Web3 here. When we do talk to regulators, we will come with the track record of working with the
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