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Indian Authorities To Build Blockchain District In State Capital

Published: 06/08/2018
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What is it for?

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.

 

 

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.

 

 

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.

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  1. ChaddyChad:
    08/07/18 at 10:14

    wow, nice idea!!!India is gooood