Telangana launches country’s First ‘Blockchain District’

The government of Southern Indian State Telangana is collaborating with a major IT firm to establish a district exclusive to blockchain startups in the state’s capital city.

The Telangana State Information Technology, Electronics and Communication Department (ITE&C) has signed a memorandum of understanding (MoU) with IT services giant Tech Mahindra to establish what is being hailed as ‘India’s first Blockchain District’.

The Blockchain District will function as an incubator for domestic blockchain startups and companies to develop real-world applications of the decentralised technology. The state government has agreed to provide regulatory and policy support for companies and startups in the sector to promote the integration of blockchain technology.

Tech Mahindra has also announced it will launch a major blockchain project in the district, the Eleven01 Protocol, aimed at delivering a government-compliant platform for startups to build decentralised applications ‘capable of performing over 10,000 transactions a second’.

The blockchain district is part of a growing list of initiatives taken by Telangana to further blockchain technology. In 2017, Telangana and the neighbouring state of Andhra Pradesh began developing early pilots to record their land registries on a blockchain. State officials in Telangana are using blockchain technology to bring transparency and mitigate fraud within government bodies.

The Andhra Pradesh government is also a member of the Enterprise Ethereum Alliance, a working group of companies and organisations looking to leverage open-source Ethereum technology for enterprise applications.

 

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Posted from my blog with SteemPress : http://www.theindiansun.com.au/2018/08/07/telangana-launches-countrys-first-blockchain-district/

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