Project Description :

Abstract

Blockchained India, India’s oldest and largest blockchain community with over 60,000 community members started back in 2016, seeks to encourage the web3 ecosystem to include interests of emerging economies while developing the decentralised internet. The potential of Web3 technology has largely been explored with a first-world mindset. This calls for efforts to bridge the divide and cater to the unique opportunities in emerging economies.

We propose a Digital Common Goods focussed Working Group for emerging economies. The proposed plan aims to form a specialised working group and explore innovative models to resonate with the needs and potential opportunities in the emerging economy. The ultimate goal is a coherent, actionable roadmap formed including the opinions of diverse stakeholders through a public consultation drive. This shall be submitted in the form of a report driving Web3 adoption to resonate with decentralisation principles that are tailored to include the interests of emerging economies.

Web 3 Innovation for the Emerging Economies

The initiative will use a grassroots approach by enabling diverse participants of the web3 ecosystem in emerging countries in order to explore unique models like play-to-earn, crypto-based micro-credit solutions, universal basic income via cryptocurrency, and other use cases.

The proposal aims to reach a tipping point where web3 goes to the next billion. This effort shall conclude with a suggestive yet actionable framework that promotes inclusion of interests of the third world economies.

The end submission shall be in the form of a report similar to the one that we came up with by uniting diverse stakeholders in India under one umbrella to get the banking ban uplifted in 2019. You can give it a read here -

https://uploads-ssl.webflow.com/620cf09e3cb227d6bbee2617/63d3ad45860711df09e41869_Does_India_Need_Crypto_Regulations_Report.pdf

Detailed Description

Blockchained India started back in 2016 and helped launch and grow major blockchain networks such as Polygon, ConsenSys, Stellar, Algorand, r3 Corda, Zilliqa, and many others in India. It proposes a concerted effort aimed at evolving the web3 ecosystem to empathise with the nuances of the emerging world. This shall ultimately enable mass adoption beyond just superficial participation from these economies.

Problem Statement

As the global focus shifts towards decentralised protocols, there is a pressing need to align the universal benefits of Web3 with the distinct socio-economic regions. Different technological landscapes of growing economies as most of the Web 3 technology is focused on catering to developed countries. These are the key challenges:

Lack of Tailored Research: The prevalent discourse on Web3 overlooks the specific socio-economic, regulatory, and technological disparities characterising emerging economies, resulting in misalignment and untapped opportunities.

Lack of Collaborative Digital Platforms: There is a need for a platform where stakeholders from various emerging economies can come together to think, work, and execute strategies that align with their region's needs.

Limited Realization on Innovative Models: Models like play-to-earn, universal basic income through cryptocurrency, micro-credits solutions, and others hold significant potential but remain under-explored and unintegrated.

Exclusion of Diverse Stakeholder Perspectives: Lack of coordinated efforts to include local experts and stakeholders, leaving gaps in understanding true regional needs and expectations.

Unrealized Potential for Increased Adoption: The promise of Web3 remains largely untapped, hindering mass adoption in emerging economies due to the absence of a suggestive, empathetic roadmap.

Motivation

Blockchained India recognises these challenges and seeks to bridge these gaps, fostering an inclusive approach to Web3's vast potential. Guided by the understanding of these challenges, the project's motivation is aligned with the vision to enhance Web3's reach and application in emerging economies:

1. Democratising Technology for Digital Commons: Striving towards interoperable distribution channels to cater to the necessities of unbanked sections of the society like delivery partners that categorise themselves as gig workers.

2. Extend the benefits of web3 models: Explore ways to provide the benefits of web3 innovation to citizens living in remote corners of the world.

3. Global Collaboration and Community-Centric Approach: Building bridges between regions and fostering a collaborative platform to cultivate innovation.

The motivation expresses a holistic approach to understanding and addressing the unique needs and opportunities in emerging economies. Fueled by a vision of a decentralised, inclusive digital future. Blockchained India proposes a four-step solution to integrate Web3's global aspirations with the distinct needs of emerging economies:

Solution Outline

We propose a “Digital Common Goods focused Working Group for emerging economies”. The working group shall explore a framework to align the interests of developing and third-world countries in the evolution of the decentralised internet.

Step 1. Formation of a Specialised Working Group:

Composition: A diverse team of Web3 experts, including blockchain professionals, sustainability founders, policymakers, regional leaders, etc.

Step 2. Research and Data Collection:

Focus: Determine Web3 capabilities pertinent to emerging economies and assess their compatibility with regional economic or cultural nuances.

Method: Gather data on factors influencing Web3 adoption and progress in these regions.

Step 3. Consultation Meetups:

Engagement: Host web3 community meetups in India [IRL], Philippines [ Virtual], and Vietnam [ Virtual].

Collaboration: Forge partnerships with prominent Web3 entities to translate insights into actionable measures.

Step 4. Analysis and Publish Insights:

Outcome: After consultations, analyse the data to identify gaps, followed by developing a framework to bridge these gaps.

Report: Compile a comprehensive report detailing findings and a roadmap with actionable recommendations, making it publicly available to align with Gitcoin's vision.

The published report shall build on learnings from models like

a. Universal Basic Income (Cryptocurrency Rewards): Enables financial accessibility via cryptocurrency, fostering a micro-gig economy and enhancing financial literacy in underbanked regions.

b. Micro-Credits (Banking the Unbanked): Transforms financial landscapes by facilitating small loans and encouraging entrepreneurial growth, enhancing community trust through peer-to-peer lending.

c. Play-to-Earn Model: Empowers individuals in emerging economies through gamified earning platforms, fostering skill development and community building.

d. Decentralized Educational Platforms: Offers decentralised educational access tailored to local needs, promoting skill alignment, community contribution, and inclusivity in emerging economies.

Expected Outcomes / Deliverables / Milestones:

1. Report on Emerging Economies’ Web3 Needs:

Target Audience: Sharing the report with 1000 participants including policymakers, developers, and local communities.

Milestone: Development and publication of a comprehensive report exploring the alignment, challenges, and potentials of Web3 in emerging markets.

2. Community Engagement:

Engagement: Consult or collect opinions of around 250 participants, diversified across sectors.

Milestone: Execution of 3 consultation meetups in India[IRL], the Philippines[Virtual], and Vietnam[Virtual].

3. Global Collaboration and Network Building:

Impact: Fostered global unity in the approach to Web3 development in emerging economies.

Milestone: Establishment of at least 3 partnerships with local Web3 entities.

4. Actionable Roadmap:

Execution: Devise a framework to suggest 3 key recommendations within the timeframe.

Milestone: Create a roadmap with actionable recommendations for Web3's regional growth.

5. Increased Awareness and Adoption of Web3:

Outcome: Expected growth in Web3 adoption spurred by the report’s recommendations.

Milestone: Outreach to over 10,000 individuals via diverse social channels.

6. Contribution to Digital Commons:

Benefit: Resources accessible to a global community, embodying Gitcoin's vision.

Milestone: Alignment and contribution to decentralized principles, including public resource creation.

7. Transparency and Ethical Compliance:

Standard: Adherence to decentralized ethos.

Milestone: Full transparency through the documentation on the Ethereum network.

8. Future Planning and Sustainability:

Legacy: Laying the groundwork for sustained initiatives and impact.

Milestone: Identification and preparation for continued needs and collaborations.

By striving for these milestones, Blockchained India embarks on a journey that resonates with the goals of Web3, weaving inclusivity and collaboration into the fabric of the decentralized digital future.

Team Credentials

Blockchained India is an established name in the Indian blockchain community, known for its successful launch and growth of major blockchain networks such as Zilliqa, Polygon, Polkadot, ConSenSys, Stellar, Algorand, r3 Corda, and many others since 2016. Our core mission is to connect and grow Web3 with the necessary stakeholders, and we have a proven track record of successfully enabling the Web3 ecosystem in India. In the past, we play a key role in the unbanning of crypto in India back in 2020. We suggested and consulted the government, policymakers, and various other stakeholders regarding India’s blockchain regulation framework “Does India Need Crypto Regulations?”. Through this proposed report, we plan to create a similar impact.

The following team members have played a key role in building and establishing a strong Web 3.0 ecosystem in India, and will be supporting this project as well:

Akshay Aggarwal is the President and Co-founder of Blockchained India. He has Co-founded 2 start-ups in the past and worked in leadership roles of numerous other venture-backed startups. He additionally leads investments as a Venture Partner with Tim Draper stewarded Web3 focussed Draper Dragon Fund.

Manav Ailawadi, co-founder of Blockchained India and Blocumen Studios, will lead this program. With years of experience building the Indian crypto ecosystem and working with companies such as ConsenSys, Polygon, Zilliqa, Algorand, and others, Manav has the necessary expertise and knowledge to successfully guide this initiative. In addition, he has worked with early-stage startups such as Polkadex, Drife, Comdex, Metapolis, and more, helping them to build their initial communities. He was previously with KPMG and co-convened the largest crypto conference in India in 2019, India Dapp Fest.

Sameer Malik is onboarding angels from the traditional space to support startups in the Web3 industry. He has been involved in the crypto space since 2016 and is currently working with various startups with Blockchained India. He invests, advises, and works with Defi, NFT projects. Previously, he spearheaded Nexus Incubator for the U.S. government and was also the co-founder and managing partner of Galaxy Exports, a manufacturer of home décor products. The startup currently clocks over $1 million in yearly revenues.

Kashyap Kompella is one of the founding members of Blockchained India and is the former CEO of Edwisely. He has a strong academic inclination with degrees from European Business School, Hamburg University of Technology, Jawaharlal Nehru Technological University, Hyderabad, and Stanford University. He is currently leading innovation at the Incubation arm of Woxsen University in Hyderabad.

Karthika Sivakumar is a Co-founder of Blockchained India and is currently working as an Executive Director with the Women’s Business Incubation Program (WBIP). Previously, she was a core member of Amazon’s innovation program in India.

This linktree has a deck with information about our previous work, listings of our prestigious partners like ConSensys, Zilliqa, Polygon, and many others, along with their testimonials. You will also find links to our community channels and other initiatives. Our programs have been covered by International/National Media, these details are also available at the next links. The Gitcoin community can further access the photos of our events and finally, our previous online and in-person program recordings are also available on Youtube.

Benefits to Gitcoin Network

Alignment with Core Values: Enhances Gitcoin's commitment to decentralized technology and Digital Commons through targeted efforts in emerging economies.

Expansion of Collaborative Network: Facilitates new partnerships and collaborations, enriching the Gitcoin ecosystem with fresh insights, connections, and new community members.

Support for Innovation: Contributes to Gitcoin's reputation for fostering innovation by exploring and amplifying Web3 in underrepresented regions.

Promotion of Inclusivity: Complements Gitcoin's focus on accessibility and community engagement, expanding outreach in emerging economies.

Increased Transparency and Trust: Leverages blockchain for ethical execution, reflecting Gitcoin's commitment to transparency and accountability.

Timeline and Budget

Month 1: Preparation, Planning, and Research Budget: $7,000

Define goals, assemble the team, and initiate research. Identify stakeholders, develop partnerships, plan meetups, and finalize methodology. Conduct interviews, prepare logistics, and develop a social strategy. Complete research, secure venues, and begin meetup promotion.

Month 2: Engagement and Collaboration Budget: $4,000

Host India meetup[IRL], start report, and evaluate feedback. Host Vietnam meetups [ Virtual], continue reporting, and collaborate with partners. Host Philippines meetups [ Virtual], compile findings and develop recommendations. Finalize draft report, and evaluate engagement.

Month 3: Execution, Finalization, and Reporting Budget: $4,000

Implement recommendations, continue engagement, and monitor execution. Assess outcomes, and gather final feedback. Complete documentation, assess alignment and prepare final reporting. Complete reporting, disseminate findings and evaluate future opportunities.

Total Budget: $15,000

Potential Risks and Drawbacks:

Stakeholder Engagement: Difficulty in engaging the necessary stakeholders across different emerging economies could lead to less comprehensive insights. Resolution: Early identification of key stakeholders and strategic outreach through local partners.

Logistical Challenges: Participating in community meetups across the globe requires dealing with logistical constraints. Resolution: Flexible planning with virtual and in-person options, leveraging local expertise.

Adoption of Recommendations: The burden of Implementation of the recommendations lies on the awareness or acceptance of it within the ecosystem. Resolution: Driving awareness once the report is published by highlighting it in the right builder communities.

Compliance with Decentralized Principles: Ensuring alignment with decentralized principles and ethical standards could be challenging. Resolution: Full transparency and documentation, adherence to Gitcoin's values and guidelines.

Budget Constraints: Managing the diverse project activities within the allocated budget may present challenges. Resolution: Efficient allocation of resources, ongoing monitoring of expenditures, and prioritization of high-impact activities.

These identified risks are managed through careful planning, flexibility, and adherence to core principles, thereby ensuring the project's success despite potential challenges.