Web3 Education in APAC

Web3 in APAC

Web 3, heralded as the next generation of internet technology, is poised to achieve a global market value of USD81.5 billion by 2030. This exponential growth is primarily fueled by key industries such as banking, financial services, insurance, e-commerce, retail, healthcare, and pharmaceuticals, which are actively embracing and incorporating Web 3.0 technologies into their operations.

As the fastest-growing web3 region in the world led by China, India, and Southeast Asia whose seed-stage investments increased by 73% in 2023, APAC leading the charge in the ever-evolving digital technology landscape. Within this region, a thriving ecosystem comprised of developers, entrepreneurs, and companies is dedicated to shaping the future of the web.

Web3 Education in Hong Kong

The current shortage of knowledgeable experts is hindering technological evolution. In response, Polytechnic University (PolyU) is launching a master’s program in blockchain and soon, a master’s degree in Metaverse, with the goal of equipping 120 students with essential skills in the upcoming academic year. The Department of Computing at PolyU aims to not only produce professionals but also dispel prevalent misconceptions in the field through these newly established programs.

Compared to existing offerings, these new courses offer more comprehensive and in-depth learning experiences. Professor Au Wenhao also stresses the significance of instilling professional ethics in students, envisioning future professionals who contribute positively to society through ethical application of their knowledge and skills. Initially offered at the master’s level, PolyU is open to extending the curriculum to undergraduate levels if demand increases and the technology matures, with a focus on Metaverse and blockchain technologies.

Web3 Education in India

AlgoBharat, the Indian arm of Algorand, focuses on three key segments: students, transitioning Web2 developers, and existing Web3 developers exploring Algorand’s blockchain offerings. To facilitate this, AlgoBharat provides AlgoKit, a comprehensive developer tool for building Web3 applications on the Algorand platform.

In preparation for its launch, AlgoBharat conducted blockchain seminars in over 50 universities across India to gauge interest and awareness about Web3 and blockchain technologies. The organization also collaborated with the Ministry of Electronics and Information Technology to develop faculty development programs at prestigious institutions like the National Institute of Technology, Patna, and Jawaharlal Nehru Technological University, Hyderabad, to educate professors and students about Web3 technologies.

Web3 Education in China

Nanjing City, the capital of Jiangsu Province in China, inaugurated the “Blockchain Technology and Application Innovation Platform of China” to advance metaverse studies nationwide. Spearheaded by Nanjing University of Information Science & Technology (NUIST), the platform aims to pool resources from academic institutions and enterprises across China to drive research in metaverse-related fields.

Nanjing, along with other Chinese cities like Shanghai, is striving to play a pivotal role in the country’s metaverse development, with ambitious revenue targets set for the metaverse industry by 2025. Despite China’s strict stance on cryptocurrencies and NFTs, the government acknowledges the potential of Web3 technologies, including the metaverse, to fuel its digital economy.

Conclusion

The Asia-Pacific (APAC) region is at the forefront of the Web 3.0 revolution, with a projected global market value of USD$81.5 billion by 2030. APAC countries like China, India, and Southeast Asia are leading the charge, experiencing significant growth and investment in digital technology. Despite regulatory challenges, the potential of Web 3.0 to revolutionize industries and fuel economic growth in the APAC region is undeniable, and web3 education is required to provide the human resources to support the rise of web3 in the region.