New Delhi: Liminal, a leading wallet infrastructure and custody solutions platform announced today that it has become a part of the advisory panel of the Telangana government’s Web 3.0 Regulatory Sandbox to nurture viable and scalable Web3 projects in the state. Stalwarts from the industry as a part of the governance and advisory panel will enable Web3 startups to scale and grow by providing them technical, management, and operational guidance.
The advisory and governance panel constituted as a part of the regulatory sandbox will shortlist web3 projects with high potential and provide management guidance, technical support, and business strategy for creating a sustainable business model. Telangana government is highly supportive of emerging technologies like blockchain and is keen on deploying innovative concepts for better governance and the welfare of the people in the state. Blockchain district, the brainchild of the government of Telangana has been set up in Hyderabad which acts as a closely-knit ecosystem for exchanging ideas, making connections, finding resources, and collaborating to boost mass adoption of blockchain technology.
Commenting on the development Principal Secretary ITE&C Department, Sri Jayesh Ranjan representing Telangana government, said “Telangana Government’s Web3 Regulatory Sandbox is a part of our continued efforts to foster innovation through blockchain in India. We believe that Web3 regulatory sandbox will help startups in navigating the regulatory landscape. We are highly optimistic about the future of web3/blockchain and want to leverage it for the benefit of mankind.”
Commenting on the development Manan Vora, Senior Vice President, Business Strategy and Operations at Liminal, said “It is an absolute honor to be a part of the Telangana government’s Web 3 regulatory sandbox as a part of MOU with BWA. We strongly believe that it will act as a catalyst to bring blockchain to the grassroots. The model created by the Telangana government can be replicated by other state governments to deliver blockchain-based efficient governance for the people in their respective states. This will also help in creating more startups in the states and create more jobs for the youth by strengthening the Startup India program.”
Liminal is actively collaborating with government machinery to enable mass adoption of Web3-related products and services. Liminal has recently partnered with India’s premier investigation agency to provide custody solutions and the recent partnership with the Telangana government will enable Liminal to leverage the power of blockchain for public welfare in the remotest parts of our country.
About Liminal
Liminal is an automated wallet infrastructure platform that offers robust security to digital assets. A SOC Type 2, ISO 27001 and 27701 certified organisation, Liminal, is based in Singapore. Liminal enables crypto-native companies to securely scale their digital asset operations through automated, plug-and-play wallet architecture. They provide a combination of multi-signature and multi-party computation (MPC) to provide secure, efficient, and compliant access to digital assets. Its operational excellence framework provides efficient fee management, transaction confirmation guarantees, seamless onboarding, and other wallet operations hence, saving businesses significant development costs. Liminal’s unified interface ensures the same wallet management experience across multiple blockchains. Its proprietary regulatory readiness program, which includes AML compliance, travel rule and a CCSS-compliant platform, helps projects fast-track their compliance journey. https://www.lmnl.app/
