The country has made clear it is ready to embrace blockchain, and it isn’t afraid to show it. Officials have recently announced India will be developing a ‘blockchain district’ in the Indian state of Hyderabad.
Tech Mahindra, a multinational IT services provider, signed a Memorandum of Understanding with The Telangana State Information Technology, Electronics and Communication department (ITE&C) of Hyderabad. The plan is to create a network of infrastructures to host blockchain incubators which promote the growth of Indian-based startups.
Telangana and Tech Mahindra Are Looking Forward to The New District
The Telangana department will be responsible for providing the applicable regulation for the district, with the aim to build an environment inclusive and supportive of blockchain technology. All startups who join the blockchain hub will receive help from Tech Mahindra on technology and platform-related matters.
“Telangana government is proud to pioneer Blockchain District in India. With support from Tech Mahindra, we envision to set a benchmark in providing Blockchain technology solutions and platforms across industries.”
Tech Mahindra’s CEO & MD, C P Gurnani, echoed the sentiment, adding,
“The Blockchain District is a global talent hub which can unlock the value of blockchain technology in democratizing data and solving large scale problems. It is also a huge step in reskilling and right skilling the workforce of the Future. Blockchain experts will be our crowning jewels as together we work towards making India the Blockchain capital of the world.”
At This Speed, India Will Be Running On a Blockchain Soon
This is not the first effort of the sort India is putting forth. Last month, Crypto is Coming reported India’s plans to build a state-of-the-art smart capital from the ground. Officials are already acquiring the necessary land to start constructing their new city using a blockchain-based system. Official representatives instructed the landowners how to follow the process, and so far the initiative has been a success.