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Jan 10, 2022
Web3 is a Result of Efforts of Web1, Web2 and Crypto Innovation: WazirX CEO
Nischal Shetty, an Indian entrepreneur and CEO of crypto exchange WazirX, envisions a decentralized world and in his recent tweet, he mentioned that web1 = information, web2 = identity + web1, and web3 = ownership + web2 + web1.
“Many miss the point that web3 is a result of efforts of web1, web2, and crypto innovation. Web3 is not a clean slate and that’s what makes it more powerful. Keep building handshake,” he further shared in his tweet.
In India, web3 will open the doors to more creativity and startups. It will play a significant role in fostering India's creator economy, together with the development in NFTs, Shetty believes.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Prabhjeet Bhatla is a cryptocurrency writer covering startups and a researcher since 2020. She has authored many articles for Entrepreneur India and APAC (digital and print) on cryptocurrency and ever-evolving Blockchain, the technology behind Bitcoin, and other cryptocurrencies. She specializes in applied cryptography, privacy-enhanced information storage systems, anonymous cryptocurrencies, elliptic curve crypto-systems, and satellite television piracy.