India Silently Launches Its First Blockchain Hatchery

India Silently Launches Its First Blockchain Hatchery

 

Tech Giant Mahindra Stands Behind India’s First Blockchain Hatchery

In a new twist that would perhaps cement the general belief that the Indian Government would change their stance and legitimize cryptocurrency, the Telangana State Data Innovation, Hardware and Correspondence Division (ITE&C) has signed a Memorandum of Understanding (MoU) with Tech Mahindra to set up a blockchain district.

Described as “India’s first Blockchain Area”, G.P Gurnani, the CEO of Tech Mahindra said:

“The Blockchain District is a global talent hub which can unlock the value of blockchain technology in democratizing data and solving large scale 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.”

Regulatory, Technology and Policy Boost

With Tech Mahindra getting involved and offering regulatory, technology and policy support, blockchain startups “will get each sort of help required from a solitary, durable element.” And the advantage is that support will not be localized. Tech Mahindra will see their reach spread across the globe. Considering specific but crucial properties special to the blockchain, this partnership will aid in churning out certifiable businesses that utilize the transparency and efficiency of the new disruptive tech to improve business operations even in government firms.

Telangana IT minister, Rama Rao said he is “proud” of this new development:

“Telangana government is proud to pioneer Blockchain District in India. With support from Tech Mahindra, we envision to set a benchmark in providing Blockchain technology solutions and platforms across industries”

In a press release, Tech Mahindra said the “Blockchain District will be a Center of Excellence for Blockchain, an incubator for technology and process development with innovative infrastructure and facilities to foster the growth of Indian blockchain startups and companies.”

The provider is known for their drive towards digital transformation and it is a shot in the arm, reviving blockchain and crypto excitement in India where the RBI has a firm control on banks who in turn prevent the widespread use of cryptocurrency.

Part of Blockchain 2030 Initiative

Despite their stance on cryptocurrency, the Government of India is interested in blockchain and for good reasons. Transparency and a flourishing economy go hand in hand and to this end, the Blockchain 2030 Initiative which has the support from the Government, Department of Science & Technology and State Government of Uttar Pradesh was launched. At the moment, the Blockchain 2019 summit is in progress and ends tomorrow where 2,000 delegates are expected to attend.

It is expected that during the summit where high-level government officials like Shri Ravi Shankar Prasad—Hon. Minister of IT & Electronics, Law & Justice—and Dr. Harsh Vardhan–Minister of Science & Technology—will grace the event, India’s first blockchain enterprise project the Aux-alpha (based on specially made Auxledger) will launch. Auxledger is an Indian designed public blockchain network in use by several Fortune 500 companies and the State Government of Rajasthan to build private networks and the much needed scalable dApps.