Nischal Shetty, an Indian entrepreneur and CEO of crypto exchange <a href="https://www.cryptoknowmics.com/news/wazirx-ceo-on-trying-to-go-from-0-to-1-for-web3/">WazirX</a>, envisions a decentralized world and in his recent tweet, he mentioned that web1 = information, web2 = identity + web1, and web3 = ownership + web2 + web1.

https://twitter.com/NischalShetty/status/1480418841532551168

<em>“Many miss the point that web3 is a result of efforts of web1, web2, and crypto innovation. Web3 is not a clean slate and that’s what makes it more powerful. Keep building handshake,”</em> he further shared in his tweet.

In India, web3 will open the doors to more creativity and startups. It will play a significant role in fostering India's creator economy, together with the development in <a href="https://www.cryptoknowmics.com/news/a-rare-golden-ape-doodle-nft-just-got-sold-for-over-1-1m/">NFTs</a>, Shetty believes.

Web3 is a Result of Efforts of Web1, Web2 and Crypto Innovation: WazirX CEO

In India, web3 will open the doors to more creativity and startups.

Prabhjeet Bhatla is a cryptocurrency writer covering startups and a researcher since 2020. She has authored many articles for Entrepreneur India and APAC (digital and print) on cryptocurrency and ever-evolving Blockchain, the technology behind Bitcoin, and other cryptocurrencies. She specializes in applied cryptography, privacy-enhanced information storage systems, anonymous cryptocurrencies, elliptic curve crypto-systems, and satellite television piracy.

Web3 is a Result of Efforts of Web1, Web2 and Crypto Innovation: WazirX CEO

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