Why will India win the Crypto race

This article uses crypto, web3 and decentralization interchangeability. The idea is to discuss the philosophy and bigger vision behind decentralization, not specific technology.

India has lost the AI war.

Winning the AI war required, big computers and lot's of data. We were never even a contender; the AI race is dominated by large organizations with immense computing power and huge datasets.

We have been playing the role of being software factory for others, and we will continue to be that when it comes to AI.

But, the race of decentralization aka web3 is different. web3 is not a linear progression, rather a fundamental change to the web and computing. Change presents opportunity for everyone to win.

India has natural advantages in this race, and we might actually win the race of decentralization.

Unless you have been living under a rock, you must have heard about decentralization, web3, crypto, NFT, DAO etc. 90+ startups working on the metaverse alone which is like a super tiny usecase of whole thing.

Now you may be wondering, what is this craze all about? Well, web3 is the biggest change to internet since dotcom. So it's a big deal. But that for later, back to why India will win the race of new Internet.

There are 3 ingredients required to win the race of decentralization. Good news is, India has got it all.

We need decentralization#

Since the start of consumer internet (dotcom), the startup scene is dominated by winner take all mentality, fueled by VC money. This has led to tremendous wealth inequality. No alt text provided for this image

India, with 65% of population living in small towns and villages, cannot afford to continue doing to our nation. We need a way to include everyone in the wealth creation. Decentralization allows us to do that. We need it.

Decentralization means inclusive growth. Sabka sath, sabka vikas

We have the resources#

AI required, super huge computers and petabyte scale data. Decentralization requires bunch of passionate people, coming together on a discord server, for a common passion. All that is needed is a laptop (30K) and ability to code.

Guess what, We have people fitting this description spread across India. Not just Bangalore or Gurgaon, but Cochi, Luckhnow, Ahemdabad, Shilong.

We have over 10,00,000+ engineering graduates coming out of college every year. They are hungry for success. They are our winners. India will win because of them.

We get it#

So we need decentralization, and we have resources to win at it. But, the most important piece of the puzzle is, do we get it?

When internet came, we were not bothered. We didn't get it. It was an abstract concept with no connection to our realities.

But decentralization, we get it. We get it more than everyone else.

Good time to quote Maha Upanishad

वसुधैव कुटुम्बकम्
The world is a family

Our uncle, aunties, their sons and daughters send us good morning on WhatsApp. and we fondly watch their status updates. This is why we will win this race of decentralisation. The concept of community is something we get the most.

This article, used decentralization and web3 interchangeably. Time to fix it.

Decentralization is a philosophy, a movement. It's about taking control away from select few, and giving control to everyone or no one (glass half empty/full). Web3 along with it's blockchain, NFT, DeFi is set of technologies that formalizes the contract of decentralization.

You can have centralization even with blockchain (see Solana) or decentralized even without web3 tech (eg. python language).

Finally, decentralization as a way of computing is good for the world, inclusive, and India has pretty good chance of becoming a leader of decentralized computing. If you can code, you must check out the crazy world of decentralization. Though I must warn you, it's evolving at dizzying speed and like anything new, full of unknowns with immense rewards to be reaped.