First Blockchain District to launch in India

August 6, 2018


First Blockchain District to launch in India

The Telangana State Information Technology, Electronics and Communication department is collaborating with the global digital transformation provider Tech Mahindra to launch India’s first Blockchain District.

According to the official announcement, the district will operate in the state of Telangana as a Center of Excellence for Blockchain, an incubator for technology and process development with innovative infrastructure and facilities “to foster growth of Indian blockchain startups and companies”.

“Telangana government is proud to pioneer the first of its kind Blockchain District in India. With support from Tech Mahindra, we envision to set a global benchmark in providing cutting-edge Blockchain technology solutions and platforms across industries. It is not just a proud moment for Telangana but India as a global leader in the Digital Era,” IT Minister K T Rama Rao announced.

CEO of Tech Mahindra C P Gurnani added that the new district has the potential to become a global talent hub “which would unlock the value of blockchain technology in democratizing data and solving big scale world 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”.

Tech Mahindra will provide platform and technology assistance to Blockchain District incubators. At the same time it will empower accelerators to develop and solve market problems across its global customer ecosystem. Regulatory and policy support “to promote blockchain growth both in India and globally” will be provided by The Telengana ITE&C Department.

Let us remind that India is paying more and more attention to developing blockchain and crypto ecosystem. As reported earlier, Bitcoin mining training program will be held in 30 cities all over India, aiming to teach rural population about cryptocurrencies, blockchain, mining and entrepreneurship. In addition, last month it was announced that India’s Export-Import Bank of India (Exim Bank) is among the BRICS banks which will start joint research on blockchain technology.