Telangana signs MoU with Tech Mahindra to launch Blockchain district

A dedicated district for Blockchain will foster the growth of startups and companies with Tech Mahindra providing the technology platform, and the Telangana government formulating the policy.

The Telangana State Information Technology, Electronics and Communication department (ITE&C) has signed a Memorandum of Understanding with IT major Tech Mahindra to launch a Blockchain District in the state.

According to a release, the Blockchain District will be a Centre of Excellence for Blockchain, an incubator for technology and process development with innovative infrastructure and facilities to foster growth of Indian Blockchain start-ups and companies. Tech Mahindra will provide platform and technology assistance to the incubators in the Blockchain District.

Tech Mahindra will also help accelerators to develop and solve market problems across its global customer ecosystem. The Telengana ITE&C Department will provide regulatory and policy support to enable and promote Blockchain growth, both in India and globally.

Telangana IT Minister K T Rama Rao said, "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.”

Tech Mahindra CEO and MD C.P. Gurnani said, “The launch of the Blockchain District is a moment in history, a global talent hub which can unlock the value of Blockchain technology in democratising 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.”

According to the release, the Blockchain District will provide an opportunity for the Blockchain ecosystem in India to collaborate and work towards building a Blockchain District in the State of Telangana and transforming India as the Blockchain capital of the world.