The Economic Times revealed on Friday, August 3 that the state government of Telangana had teamed up with Tech Mahindra, a publicly listed firm with headquarters in India to build the country’s first “Blockchain District.”
The blockchain district will occupy an area inside the state capital, Hyderabad and will have buildings to host blockchain startups from India as part of the government’s push to advance the blockchain development in the country.
India Pushes for Blockchain
Local business news outlet Inc42 revealed that the Telangana state government will handle the building of infrastructure for the new district and will provide policy and regulatory support for blockchain firms that set up shop there.
Meanwhile, Tech Mahindra will offer its blockchain expertise and technological skills. The firm is also hard at work developing a new blockchain platform for startups in the country, dubbed the Eleven01 protocol.
The announcement of this blockchain district is the latest effort by an Indian state to push for blockchain innovation and development with government backing.
The neighboring state of Andhra Pradesh recently signed an agreement to begin the development of a blockchain ecosystem as part of the Fintech Valley Vizag initiative.
Both states are also exploring the use of blockchain to update their land registries as well.