The state government signed a Memorandum of Understanding with Coinbase Inc on Saturday to collaborate towards building a strong Web 3.0 community in Telangana. The MoU was exchanged in the presence of IT and Industries Principal Secretary Jayesh Ranjan and Emerging Technologies Wing Director L Rama Devi Lanka.
Coinbase Inc, a Web 3.0 giant and one of the largest web 3.0 investors in the world, is interested in growing a network of developers and entrepreneurs working on blockchain, decentralized applications, tokens and other facets of Web 3.0 technology. Coinbase will be supporting Web 3.0 entrepreneurs of Telangana through capacity building sessions, mentorship programmes and promoting initiatives conducted with the help of Telangana’s innovation ecosystem partners. It will also provide knowledge support and act as a technical advisor for Web 3.0 related initiatives implemented by the government.
Jayesh Ranjan said, “This is a wonderful opportunity for Telangana to establish itself as the hub of Web 3.0 technology in India. With this partnership, we aim to further our mission of building a vibrant innovation ecosystem by encouraging entrepreneurs and innovators in this community and in this process, hope to have some innovative products come out of the state.”