Grow opens new local office to aid adoption of blockchain and Web 3.0

Sri Lanka is aligning with innovation and accelerating into a new, digital-centric space, with the government working to create an inviting regulatory environment for blockchain use-cases to flourish, offering the country fresh and entirely new economic verticals.

One such enterprise capitalising on Sri Lanka’s progressive approach to emerging technology markets such as Metaverse and Web 3.0 is start-up incubator and 360 service provider, Grow. Recognising the exciting growth potential that Southern Asia has to offer, the company has set up an operating base in Colombo, a move it hopes will inspire others to follow. 
The team’s new office, which is situated in One Galle Face Tower, recently welcomed Sri Lankan Cabinet Minister for Youth and Sports Namal Rajapaska to its opening.

“We are proud and happy to have you guys here as young entrepreneurs in the blockchain technology sector and taking Sri Lanka, leading Sri Lanka into the new era. As a government, myself, my secretaries here, the Central Bank, deputy governors, all of us, are excited to be here today and to welcome you all.”

“I’m sure this is going to be the incubator for many, many start-ups on the blockchain technology opportunities that are coming out in Sri Lanka and also in the region. So, congratulations and our support is there. So, we want to see you working hard. I can assure that we, as a government, will support you 100 percent. There are certain positive changes that we are looking at to facilitate you more in this part of the industry and we will look at that in a very positive way and work together going forward,” Rajapaska said.

Speaking from the opening celebration, Founder and CEO Peter Carroll said, “New technological economies are combining with widespread technological infrastructure and forming the building blocks of our economic future. The ways in which they are utilised and regulated will define social mobility for the youth of today. At Grow, we firmly believe these times are part of a shift, from the innovation phase of a technology breakout to the early adoption phase of the blockchain-based industries of Web 3.0.”

 “As the opportunities unfold, we are seeing huge potential in blockchain gaming and the Metaverse, we believe with forward thinking leadership Sri Lanka can take a central role as an ecosystem driver for these fresh and exciting verticals.”