'Our aim is to have an India stack for Blockchain technologies,' says IT advisor to AP govt

In its bid to make Vizag the Blockchain capital, JA Chowdary, Special Chief Secretary & IT Advisor to the Chief Minister, Govt. of AP., is pulling out all stops on the first day of the Fintech Valley Vizag, the flagship initiative of Government of Andhra Pradesh.

The conference marks the second leg of the Fintech Valley Vizag initiative that was started with the Fintech Spring Conference in March 2017. It will be a power-packed two-day expo that aims to connect decision makers from government bodies and the industry working on Blockchain technologies to create business and investment opportunities for startups.

Speaking to YourStory, JA Chowdary said that the summit will attract domain experts and startups from different countries, and 50 startups from across the world will be showcasing their products/solutions in the domains of fintech and Blockchain at the event.

He also mentioned that 20 companies have signed MoUs for 120 use cases, that include cybersecurity, road transport and land acquisition.

“Our aim is to deliberate how to have an India stack for Blockchain,” he said. Chowdhary also mentioned setting up a school for Blockchain, headquartered at Tirupati. “Manpower is a real issue, and we need to have trained personnel in this technology,” he added. To solve this, he said the government was roping in startups in the space. A global fintech summit planned next year will also award $1 million to startups for solving certain challenges in this space.

“Funds for R&D is the real oxygen for any startups in this space,” he added, saying that the fintech fund will also help the startups with market access, along with mentoring.

“India is witnessing a heightened interest in Blockchain technology across sectors. Applications and collaborations in the financial industry sector specifically, has gained significant momentum; but we have yet to scratch the surface and achieve notable impact and transformation in the way we transact.”

Recent cyber attacks like WannaCry ransomware attack have prompted companies to look at Blockchain technologies seriously.

The conference has high-profile keynote speakers and attendees such as Chandrababu Naidu, Chief Minister of Andhra Pradesh, Lokesh Nara, IT Minister of Andhra Pradesh, Gulshan Rai, Special Secretary, Cybersecurity, Prime Minister’s Advisory, Ravi Menon, Managing Director, Monetary Authority of Singapore, Ajay Sawhney, Secretary, MEITY, Ashok Vemuri, CEO, Conduent, Richard Kastelein, Founder, Blockchain News, Loretta Joseph, Fintech Leader of the Year 2017, Australia, and a host of other global experts.

Other highlights of the programme include exclusive roundtables with senior executives from the themed industries providing insights and recommendations to policy makers around Blockchain insurance & banking, Blockchain cybersecurity, Blockchain & cybersecurity, Blockchain capacity building and R&D, and Blockchain supply chain & logistics.

It will also hold a challenge that will provide Blockchain startups from across the world an opportunity to work on live use cases with the Fintech Valley partners and a chance to win up to Rs 21 lakh.