India should participate in setting a global Web 3.0 policy framework. We can’t afford any digital colonialism or authoritarianism
By Srinath Sridharan
Web 3.0 is being shaped by the global developer community on the ideology of the decentralisation of internet. At least technically, with Web 3.0, the BigTech platforms can be disintermediated and might have decreased power over the outcomes. If we have BigTech currently, Web 3.0 would see more of DeepTech. The content creators will have power over their content, and not the platforms as they do have at present.
Between the 1970s-2000s, internet technology and allied businesses were largely dominated by companies from the developed nations. India then did not have the requisite policy muscle or the consumption heft to be involved in the development of policy development on internet governance and the global internet ‘platform-isation’ possibilities. We have come a long way from being body-shoppers to being a country with vibrant entrepreneurial energy and ideas chased by execution-capital.