Indian Authorities To Build Blockchain District In State Capital
The Indian government, in cooperation with IT company Tech Mahindra, plans to build an urban blockchain district in Hyderabad, the Telangana state capital, The Economic Times reports.
All conditions for the development of innovative technologies, modern IT solutions, and blockchain startups are supposed to be created in Hyderabad. Within the project, an incubation center will be built, where the companies will work. The Telangana state authorities will be responsible for the development of the district's infrastructure and will provide support for the blockchain projects at the legislative level.
"This is another momentous occasion for our Government in the #Blockchain technology area, in providing the right infrastructure for @tech_mahindra and the @ELEVEN01dotIO foundation to thrive globally." ~ @KTRTRS, @MinIT_Telangana - https://t.co/183AkzmjHd pic.twitter.com/1yvrhmZth5— Tech Mahindra (@tech_mahindra) 3 августа 2018 г.
In turn, the team of Tech Mahindra will apply all its knowledge on the implementation of distributed ledger technology. The company's specialists develop the Eleven01 protocol, a blockchain platform for the country’s startups. Besides, the IT company cooperates with the developers of foreign blockchain projects to use their experience in the Indian market.
Tech Mahindra is estimated at $4.6 billion and has more than 117,000 employees in 90 countries around the world assisting nearly 900 companies, including those from the Fortune 500.
.@tech_mahindra CEO @C_P_Gurnani, @NucleusVision CEO @abhi_nucleus, @MinIT_Telangana @KTRTRS, Principal Secretary of IT Telengana @jayesh_ranjan, & @eleven01dotIO CEO @rama14iyer signing MoU to launch India’s first #Blockchain District in the state of Telangana at #IBCIndia2018! pic.twitter.com/Y1uRsGNOXj— Tech Mahindra (@tech_mahindra) 3 августа 2018 г.
The government of India shows its tolerance of blockchain and cryptocurrencies. Kerala Development and Innovation Strategic Council (K-DISC) will supervise the creation of the innovative blockchain service for the production and delivery of food products.
Companies worldwide are actively involved in blockchain development, but the technology is not yet widely applied in practice.