This weekend, the Infotech department of Telangana, also working abroad to help solving the problems in the Indian market signed a memoranda of understanding ‘Mou’ with Mahindra, a publicaly listed firm headquartered in India. The tie-up of the two major departments to create what they claim are the country’s 1st “blockchain district” is expected to see in mere future.
As reported by the Economic Times, this blockchain district is expected to occupy a place within the states own capital town ‘Hyderabad’ with the motive to incubate blockchain startups from India as a part of the government’s push to advance the tech’s development in this era.
A local news channel Inc24, stated this as the government adoptive policies in building the regulative support for the blockchain startups in the country.
Tech Mahindra, on the opposite hand, can supply experience centred on blockchain system and technological skills. As per some local sources, tech Mahindra is also working on the ‘Eleven01 protocol’ which is believed to provide support in developing a blockchain platform.
This partnership is though a happy news for the crypto community in India, since after the disappointing news to ban cryptocurrencies. This blockchain district though being developed shows the latest effort by the country to employ the blockchain technology for this new technological era.