Telangana Govt To Transform State Into ‘Blockchain Capital’

In a keynote address at the Blockchain Summit on Demystifying the Opportunities and Applications of Blockchain which was organized by Confederation of Indian Industry, a government official stated that the government plans to make Telangana as the ‘Blockchain Capital’ of the country.Rama Devi Lanka, who is the director of emerging technologies, officer on special special duty, ITE and Communication Department, Government of Telangana, on Friday said, that the proposed blockchain district would provide skilled talent, infrastructure, R&D support and vibrant communities. She added that the state government has been studying relevant use cases for the adoption of blockchain technology.In May, this year, we had reported that Andhra Pradesh government decided to store the DNA data of its residents on a blockchain and also partnered with Niti Aayog to develop blockchain-based solutions, and now its neighbor state Telangana is also taking steps to increase the role of blockchain in both public and private sector. The state has just come out with a draft of its blockchain policy, and the details of this draft say a lot about what Telangana is planning about blockchain.The draft had said, “Taking a giant leap in this direction, the Government of Telangana has conceptualized India’s first ‘Blockchain District’ which will be a physical area with Hyderabad and will aim to create the world’s best blockchain technology ecosystem.”In January this year, Telangana government along with London-based startup Cognito Technologies was slated to start a pilot project, in which it would leverage the blockchain technology to come up with credit scores of those from economically weaker sections of the society.According to Murali Mohan Reddy Duvvuru, the co-founder of Cognito Technologies, using the Sthree Nidhi’s digital system, the firm would be using blockchain technology to establish a credit history for every individual.Liked what you read? Join us on Telegram