Telangana government inks MoU with Bharat Web3 Association

Hyderabad: Telangana government’s Information, Technology, Electronics, and Communication Department (ITECD) signed a Memorandum of Understanding (MoU) with Bharat Web3 Association (BWA) on Thursday. The MoU sets the stage for collaborative discussions between the two entities.

BWA is set to work closely with the Telangana government to build a thriving Web3 ecosystem in the state.

The Telangana government will be exploring the opportunities that Web3 offers, said a press release on Thursday.

Under the partnership, events, seminars, and roadshows will be organised to facilitate discussions around Web3 technology.

“We are extremely delighted to announce our partnership with BWA, and extend a warm welcome to them. I believe that BWA serves as a great example of how the blockchain industry can come together united to drive the ecosystem forward. The signing of this MoU marks a significant milestone in our efforts towards establishing a leading ecosystem for the Web 3 space in India,” said Principal Secretary to Government of Telangana – ITECD, Jayesh Ranjan.

“We believe that this partnership will help us unlock immense value to the startups and enable us to expand the frontiers of possibilities in this rapidly growing and dynamic sector,” he added.

BWA will also mentor and advise selected cohorts in their endeavour to utilise opportunities in Web3 and related technologies, as presented by the ITE&C department. The BWA will also appoint a nodal officer to speed up the implementation of policies.