Blockchain's Whizman Sandeep believes that India has the capacity and capability to become a superpower in the Web3.0 space and also can become the digital
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Sandeep was developing products and technology for other blockchain companies before he founded Polygon. Being very active in the blockchain community in India, he met his other co-founder, Jaynti Kanani. The company was established after the founders reached a conclusion that even though Ethereum was a great innovation, it would not be able to cater to large user bases due to it being inherently decentralized yet having a very low bandwidth. And that's how Polygon was born. Emphasising on the existence of blockchain, Sandeep Nailwal explained, "From 2020-2022, we have seen massive product market fits. Gaming, NFT art and DeFi all are all huge segments. They are all getting stress-tested and now that the industry has very strong product market fits, it is not going anywhere. It has made its place as one of the primary industries in the world."
He believes that India has the capacity and capability to become a superpower in the Web3.0 space and also can become the digital goods factory of the World. He also highlights the wage disparity that has now been diminished due to the crypto. "It is a good way to bring a lot of money into India with developers who are very good at their work and would get larger amounts of salary which is one of the reasons why we keep pushing on the education front," highlights Nailwal. According to Nailwal, the fun part of crypto is that raising funds is easier as compared to Web2.0 startups. Most of the crypto companies have off-shore entities that issue tokens. Global investors pay directly to the off-shore entities and don't need to make direct investments in India.
"I am a de-facto investor in all the start-ups. I am now a part of a lot of Web3.0 startups as an investor which I look upon as my way of giving back to India," said Nailwal. He advises young entrepreneurs to not be deterred by the new regulations and find a way to keep building, whether it is in India or outside of India because there is ample capital for them to build an ecosystem and funds. "As an entrepreneur, out of the 300 working days, you'll only find that there are 30 good days for you to work and 5-6 really good days that keep you going. If you work hard, those days will come to you and you'll realize that this is the right path that you are taking," said Nailwal.
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