India has the potential to be the leader in Web3 says Anandan of Sequoia Capital

India has the unique opportunity to become the global leader in Web3, but needs to get its regulatory and legal frameworks in place, said Rajan Anandan, managing director, Sequoia Capital.
In the second half of 2021, Sequoia Capital India made 19 investments in Web3 startups, said Anandan.
The concept of Web3 is a decentralized version of the Internet that runs on open-source code such as a public blockchain, the underlying technology for cryptocurrencies