A State In India Collaborates With Mahindra To Establish ‘Blockchain District’
A state administration in the populous Indian nation is partnering with an international IT service company to establish a district within the state capital which is entirely committed to assisting blockchain startups.
The Telengana state government’s IT department recently signed an MOU with Tech Mahindra, which is a publicly listed company, whose head office is based in India. The new partnership will ensure that both companies are able to mutually establish what will be India’s pioneer ‘blockchain district’.
According to a report by Economic Times, the state administration will be tasked with establishing the substructure of the budding district as well as offering strategy and guideline support for the startups using the innovative technology. In many ways, Tech Mahindra will provide the know-how which emphasis on blockchain bionetwork as well as technological skills.
An announcement on Friday indicated that the technological firm is working on establishing a blockchain platform which is custom made for startups all over the nation. The platform will be christened Eleven01 protocol.
Just as it had been earlier reported by CoinDesk, the IT firm has been involved in engaging with international blockchain startups with the sole aim of bringing relevant solutions to the Indian market. The ‘blockchain district’ will be go a long way in marking the latest attempts by a state in India to develop blockchain innovation with initiatives supported by the current administration.
It should also be noted that the state of Andhra Pradesh, which also neighbors Telangana, had beforehand signed a contract with a fund to commence the development of a blockchain bionetwork as part of the state’s Fintech Valley Vizag initiative.