Indian State Government Works with Tech Mahindra to Build a Blockchain District

Indian State Government Works with Tech Mahindra to Build a Blockchain District

The Telangana state government has partnered with the multinational IT services giant Tech Mahindra to build a “blockchain district” within the capital of the state dedicated to blockchain startups.

The IT department of the state government signed a MoU (Memorandum of Association) with Tech Mahindra on Friday. Tech Mahindra, an IT services giant headquartered in India, together with the Telangana state government, will work towards building India’s first “blockchain district”, the two claimed.

News outlet Economic Times reported that the blockchain district will be built in Hyderabad, the capital city of Telangana, with infrastructure such as physical buildings to house blockchain startups from the country as part of government’s plan to advance the development of blockchain technology.

The news outlet Inc24 reported that the state government will be primarily responsible for providing new policies and regulatory support to blockchain startups in the district, while Tech Mahindra will offer expertise in technological skills and focus on developing blockchain ecosystem.

According to an announcement on August 3, the IT services giant is working on developing the Eleven01 protocol, a tailor-made blockchain platform for startups in the country.

Furthermore, Tech Mahindra has also been working with overseas startups to bring blockchain solution to the Indian market.

The move by the state government is the latest in its push to advance blockchain development backed by government initiatives.

Andhra Pradesh, an Indian state neighboring Telangana, had previously signed an agreement with a fund to advance the development of a blockchain ecosystem as part of the government-backed Fintech Valley Vizag initiative.

Meanwhile, both the states are exploring new ways of utilizing the technology to revamp the process of land registries.

Follow us on Telegram, and Twitter !

Please follow and like us:

Leave a Response