At the India Blockchain Forum Launch event, Telangana’s Principal Secretary for Industries & Commerce (I&C) and Information Technology (IT), Jayesh Ranjan, revealed plans to introduce a Web3.0 Regulatory Sandbox to support the development and promotion of web3.0, startups, innovation, technology, and the ecosystem in the state.
The Sandbox will help the startups who made the shortlist in a number of ways, including governed data access and subject-matter experts. Ranjan added that the governance structures and composition of this regulatory sandbox, which will examine issues like what will be provided and what will be required, will be debated in a bigger forum and take into account their input and suggestions.
With a focus on DeFi, Metaverse, and Web3.0, The Sandbox strives to address the problems and obstacles that web3 startups face.
