CandleFocus

Venture Capitalist Cites Funding, Talent for Web3 Development Surge in Emerging Markets

Author: Content Editor
Venture capitalist Tak Lee, CEO of Hashed Emergent, believes that emerging markets, particularly India, are becoming hubs for Web3 development. Lee attributes this trend to attractive funding opportunities, access to top-tier talent at a lower cost, and conducive community ecosystems in these regions. He also highlights India's decades of leadership in IT and software development, which has created a large pool of talent that can adapt to emerging technologies like blockchain. However, Lee acknowledges that the Web3 sector in India still faces challenges, including taxes, AML/KYC compliance, and narrow regulations. Despite these challenges, Lee believes that Web3 can have a significant impact in emerging markets, bringing economic activity and growth to regions lacking trust. Hashed Emergent is organizing the Indian Blockchain Week conference to unite the grassroots of the Indian Web3 community and showcase India's blockchain economy to global Web3 leaders. Lee also believes that Web3 can enhance cross-border investments and bridge the gap between separated regions by addressing limitations in existing systems, such as high transaction costs and lengthy settlement times. Regarding crypto adoption by institutions in India, Lee believes that Web3 integration will enhance transparency, efficiency, and scalability across industries, and he encourages Indian institutions to develop well-informed policies to address regulatory and compliance hurdles.

Related News