Web 3.0 Financial News

Web 3.0 is considered the third version of the internet.

A new class of cryptocurrencies is emerging that integrates artificial intelligence into underlying blockchain architecture.

Web 3.0 and crypto services can play in India and how we must prepare for this.Timely regulations will build a vibrant and transparent ecosystemThe crypto asset class has potential to give disproportionate returns to investors over time in a democratic way. This has not been the case with any other technology-based asset in the past. For example, a US citizen had earlier access to global IT stocks in 2000s before Indians did. It is now up to the Indian government to encourage this ecosystem in a compliant manner. The government has taken great strides already. Be it a TDS on sales or the recent anti-money laundering (AML) provisions under PMLA, the messaging from the government has been consistent: invest fairly and declare the profits. However, India-based exchanges, which have been the most compliant, have experienced a significant drop in volumes since July 2022 as investors migrated to using non-compliant global exchanges for their trades. This must be addressed quickly.

Pocket Network provides abundant blockchain bandwidth from a globally-distributed network of more than 40,000 full nodes to applications in Web3 across 37 blockchains. The number of relays have doubled over the last few weeks and the average is about a billion relays a day, which is ten times higher than the daily average in November 2021. In just the last week alone, Pocket has had more relays than the whole December. «Robust blockchains require robust decentralized infrastructure, and we are glad for being able to serve the demands of growing blockchain ecosystems,» said Michael O'Rourke, CEO and Founder at Pocket Network.

With the rapid evolution of technology, there's a new term, a new concept emerging every now and then. One of those is “Web 3.0” or just “Web3”.