The headlines that followed yelled “India Leads the Way in the Web3 Revolution!” While partnerships such as Bitget and Avalanche’s are stoking those flames. Let’s face it, revolutions aren’t achieved on press releases and pledges. They’re created in the crucible of genuine progressive change, making a difference in people’s real lives. Is this partnership finally going to deliver on the decades-old dream of technology as the great equalizer? Or is it just another tech insider land grab disguised as philanthropy?

Financial Freedom For The Unbanked?

India, one of the most fascinating, dynamic, ambitious countries in the world, whose reality sadly is marked by inequality. Millions more are underbanked, limited in their access to the most fundamental financial services. Can Web3 — funded by the Bitgets and Avalanches of the world — actually do that and more?

It's a tantalizing prospect. Now picture this, decentralized DeFi platforms offering microloans to farmers in developing country villages, bypassing the middleman of predatory lenders. Imagine blockchain-backed identity systems providing access to credit to people lacking ID or a social security number. Imagine the impact of migrant workers being able to send remittances home instantly and at no cost, avoiding predatory fee structures.

Avalanche's investment in India, including its collaboration with government agencies on welfare projects, is a step in the right direction. Investment alone isn't enough. Pair it with education and access to these things. Go beyond a simple awareness of the distinct challenges marginalized communities encounter. We don’t want to make things theoretically possible.

DeFi can fix each of these issues. Perhaps the largest obstacle to leap over is a matter of education. It’s crucial to arm the public with knowledge on the emerging cyber security risks and how to best protect themselves. Only then will the next wave of users can be onboarded into the DeFi space safely.

Blockchain4Her: More Than Just a Hashtag?

Bitget's Blockchain4Her initiative is another promising sign. The tech world, and crypto in particular, is rife with sexism. Supporting women-led Web3 projects is more than just checking off diversity boxes. When it is, it unleashes a powerful wave of innovation and creativity!

Consider this: women control a significant portion of household spending. If they're empowered to participate in the Web3 economy, they'll not only benefit financially but drive adoption and shape the future of the technology in ways that better serve everyone.

Let's hold our horses. And let me be clear, a flashy initiative is worthless if it’s not producing real outcomes. We need to see:

  • Funding: Are women-led projects receiving adequate financial support?
  • Mentorship: Are women entrepreneurs getting the guidance they need to navigate the complexities of the Web3 space?
  • Representation: Are women being given a seat at the table in decision-making processes?

If Blockchain4Her can follow through on all of these promises, it would be revolutionary. If that’s all it amounts to – a token PR stunt – then we will have collectively missed a huge opportunity.

DAOs: Community or Controlled?

Decentralized Autonomous Organizations (DAOs) have the potential to transform governance. They help to give communities a more direct say in the projects and platforms on which they wish to engage. In India, where traditions of communal collaboration run deep, DAOs are a particularly powerful prospect.

Picture rural communities employing DAOs to collectively budget their natural resources, fund new infrastructure development, and mediate local disagreements. Imagine a world where marginalized communities adopt DAOs to band together and invest in Web3 projects that create their own economic ecosystems.

DAOs are not without their challenges. Setting them up and managing them can be intimidating and confusing. They are relatively easy to game for anyone with technical know-how and a few capital dollars. To really live up to this underdog empowerment narrative, DAOs must be built with accessibility and inclusivity as core principles.

My vision is that the DAOs will be very easy to use for anyone, very user friendly. The user interface would have to be as intuitive and engaging as today’s most popular social media platforms. This would facilitate onboarding the masses and help them easily onboard to DAOs and adopt them as well.

With the right implementation, this Bitget and Avalanche partnership can become one of the strong catalysts that inspire positive change in India. Though the approach of the ‘HODL ON’ tour—centered around education—is a small first step, Bitget’s commitment of $10 million over three years through its Blockchain4Youth initiative is an admirable start. Doubling the number of Web3 startups in India by 2025 is an ambitious target.

Potential is just that – potential. The true test on the horizon will come in seeing whether these initiatives lead to concrete improvements for the most disadvantaged communities. It is time to look beyond the buzzwords and press releases. Now we want to see that translated into real empowerment, real inclusion, and real change.

So, will Web3 finally be the great equaliser in India? The jury is still out. With thoughtful planning, real commitment, and an eye towards the community-focused solutions we need, it can. If it does, that will truly be a revolution—we’ll all want to celebrate that!