Monday 14/11

Happy Monday to those who believe in happy Monday and GM to the rest of you! We have a lot to go over this Monday. Industry leaders unveiled Bharat Web3 Association ( BWA), India will raise the issue of crypto regulation at the G20 summit, Solana will make smartphones now and Sam Bankman's wealth got fried!

• Bharat Web3 Association (BWA): Industry leaders across the Web 3.0 verticals, launched Bharat Web3 Association (BWA) to enable and support the growth of India’s Web 3.0 ecosystem. Members of BWA span multiple verticals, including non-fungible tokens (NFTs), Web 3.0 gaming, infrastructure providers, virtual digital assets (VDAs), and token projects. According to a press release by the association, their focus will be on — 1) driving awareness through research to help keep pace with this evolving technology; 2) promoting dialogue between key stakeholders; 3) setting standardized principles in the Web 3.0 industry; 4) encouraging and promoting Web 3.0 and Blockchain innovation; and (5) nurturing India’s talent pool. Polygon, Hike, Coin DCX, CoinSwitch Kuber, Zebpay, and WazirX are significant members of the new association

• World’s third-largest Web3 workforce: ​​According to a new study published by the National Association of Software and Services Companies (NASSCOM), a nonprofit organization in India with over 3,000 members, the country currently possesses 11% of the world’s Web3 talent. The figure makes India the world’s third-largest regarding its Web3 workforce, employing nearly 75,000 blockchain professionals today. Furthermore, the industry group expects the talent pool to grow by over 120% within the next two years.

• Crypto Goes To G20: Union Finance Minister Nirmala Sitharaman said global crypto asset regulation should be an international priority and will be a big topic of discussion at the next G-20 summit.

• Solana Smartphones: Yes, you heard that right. Solana unveils Google partnership, smartphones, and Web3 store at its breakpoint conference that went on from 4 Nov- 7 Nov. Google cloud will soon become Solana's node validator, and Google Cloud’s Blockchain Node Engine, which was first announced on 27 Oct, will feature on the Solana chain from 2023. The integration will allow users to launch a dedicated Solana node in the Cloud.

• Sam Bankman Fried and FTX: Sam Bankman-Fried reportedly denies fleeing to Argentina, and says he’s still in the Bahamas. This all comes from his massive loss of wealth and the collapse of FTX. Based on net worth calculations by Bloomberg, Bankman-Fried was worth about $16 billion at the start of the week. But as his crypto exchange, FTX, collapsed, the value of his assets was reduced to zero in what Bloomberg called “one of history’s greatest-ever destructions of wealth.

Application Developer: Blockchain - IBM

Smart Contracts: If we were to describe smart contracts in a few sentences, this is what we would say. Smart contracts are the fundamental building blocks of Ethereum applications. They are computer programs stored on the blockchain that allow converting traditional contracts into digital parallels. Smart contracts are very logical - following an if this then that structure. This means they behave exactly as programmed and cannot be changed.

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