India to Launch Blockchain District
According to reports, the state government is collaborating with another IT company giant to begin constructing a district within the country fully dedicated to studying and advancing blockchain-tech and related startups.
A Dedicated Hub
Tech Mahindra oversaw the singing of a new contract, a MoU, between Telangana’s IT division within the government and the company. Tech Mahindra is a listed firm within the country and will be part of the collaborated effort in designing, developing and creating India’s own blockchain district.
As per reports and the Indian government's adamancy about further developing cryptocurrency, the new project will take place within a part of Hyderabad, the state capital, and will occupy several buildings as a means of housing these new startups and overlooking their operations. Further news reports state that the local government will be in charge of constructing the foundations of the new district while implementing the required policies and ensuring that all appropriate regulations are in place.
The partnered company, Tech Mahindra, will provide the required experience, professionalism and a dedicated attention on blockchain-tech and its environment as well as offering expert-level technological understanding and talent. Additionally, following an announcement on the 3rd of August, the company is also designing a new blockchain custom-created for upcoming projects within India. Another report reveals that Tech Mahindra has been collaborating with blockchain projects internationally as a means of introducing and adopting new solutions for India’s marketplace.
The announcement of a new district, one completely dedicated to blockchain startups and investors is yet another try by the Indian government to developer blockchain-tech ever further under their observation. Andhra Pradesh, a sister state inked a deal with a certain fund as a means of initiating a new fintech project within the state. Currently, both states are delving deeper into blockchain and study every aspect they can and upgrade on their own land registries.