The Indian Ministry of Electronics and Information Technology (MeitY) intends to give users the ability to use crypto tokens to digitally sign documents in a new native web browser. The proposed browser will focus on accessibility and user feasibility. It will also have built-in support for individuals with diverse abilities. Highlighting how the crypto token sign feature will prove beneficial, the official statement noted,
“The browser envisions the ability to digitally sign documents using a crypto token, bolstering secure transactions and digital interactions.”
The announcement was part of the launch of the Indian Web Browser Development Challenge. The IWBDC is an open competition to create an indigenous web browser with “its own trust store, cutting-edge functionalities, and enhanced security and data privacy protection features.”
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Web3 Gets Added Weightage
This development is significant because the Government of India has not yet put forth any rules pertaining to crypto in Parliament. That being said, it should be noted that crypto-related activities like trading and investing are taxed in this region.
Parallelly, the country has been pushing for global crypto rules. Recently, Finance Minister Nirmala Sitharaman said that the G20 nations have welcomed the high-level recommendations of the Financial Stability Board regarding crypto asset activities and global stablecoin arrangements. For context, India currently holds the G20 presidency.
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The latest announcement asserted that MeitY has been at the “forefront” of several initiatives that are reshaping the future of the nation. This challenge addresses one of the critical components, the Web browser, through which users access the Internet.
The government has given additional weight to “support for Web3” in the browser design feature requirements. The prize pool allocated for this challenge is Rs. 3.41 crore [around $412,520]. The deadline to submit the browser is July 1, 2024.
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