WEB3

India to Have its Own Web3 Browser: A Step Towards Digital Sovereignty?

by BSCN

August 11, 2023

chain

This initiative seeks to foster innovation and empower technology enthusiasts, developers, and innovators across the country to create an indigenous web browser.

Crypto Tokens for Digital Signatures

The Indian Ministry of Electronics and Information Technology (MeitY) has taken a monumental step by launching the Indian Web Browser Development Challenge (IWBDC). The program is jointly led by MeitY, CCA, and C-DAC Bangalore, according to a recent press release.

This challenge aims to foster a sense of digital sovereignty and enhance the security of online transactions and interactions by inviting participants to build a locally-developed web browser with a proprietary trust store and CCA India root certificate. The IWBDC deadline is set for July 1, 2024. 

The vision behind this pioneering initiative lies in providing users with the ability to seamlessly sign documents using crypto tokens. A glimpse into the desired features of the browser unveils a keen focus on "support for Web3." 

As India steps into this uncharted territory, the competition encourages the incorporation of cutting-edge functionalities, elevated security measures, and robust data privacy protection features. 

The potential impact of this endeavor is vast, envisioning a future where users can navigate the complexities of the Web3 ecosystem with confidence and ease.

Participants can look forward to invaluable technical mentorship as they embark on this exciting journey. The prize pool is worth $410,000, with the winner to receive a substantial $120,000 reward.

While the central bank has refrained from legalizing cryptocurrency, the government has been proactive in taxing and adhering to international anti-money laundering standards. The parallel promotion of a central bank digital currency (CBDC) illustrates the nation's multi-faceted approach to digital finance.

The timing of this challenge is ideal, given India's role as the G20 president and its advocacy for global crypto regulations. Despite the absence of concrete legislative frameworks, the IWBDC stands as a beacon of progress, signaling India's readiness to embrace the evolving digital landscape. 

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