The authorities of the Indian state of Telinghan and Tech Mahindra signed a memorandum of understanding with the aim of launching the country’s first blockchain quarter.
According to the Economic Times,a district of the blockchain will be located in the state capital - Hyderabad. The government intends to create a center for the development of new technologies and an incubator for Indian blockbuster start-ups.
Business24 News Inc reports that the state government will be responsible for building the infrastructure of the new district, as well as providing political and regulatory support for the launch of the blockchain.
IT-giant Tech Mahindra also works with foreign block-start-ups offering solutions for the Indian market. In turn Tech Mahindra will provide technological support to residents of the district.
Earlier, the neighboring state of Telingana in the state of Andhra Pradesh signed an agreement with the foundation to begin the development of the ecosystem based on the blockchain in the framework of the Vinag Valley Fintech Valley initiative.
In June, the government of the Indian state of Kerala began to consider the possibility of using blockchain technology to manage food supply chains.
At the same time, Andhra Pradesh and Telingana are studying the use of blockchain technology for digital processing of land registers.