Blockchain

Telangana Launches Blockchain Draft Policy to Create India’s 1st Blockchain District

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In a bid to make Hyderabad as the top 10 blockchain cities in the world, the Telangana state government has released its draft Blockchain Policy. The draft highlights the frameworks being set up for the blockchain ecosystem along with conceptualizing of India’s first blockchain district.

“Taking a giant leap, the Government of Telangana has conceptualised India’s first Blockchain District which will be a physical area within Hyderabad and will aim to create the world’s best blockchain technology ecosystem,” said the draft policy released by the IT, Electronics & Communications Department of the Telangana government.

The draft policy include following major highlights:

  • Development of talent pool by collaborating with industries
  • Creation of shared infrastructure facilities that can be used by startups, industry, academia and communities.
  • Promotion of research and innovation and enable collaboration and focus on community building.
  • Telangana state government to provide incentives to enterprises, startups and other entities.

Related Reading – Telangana Awarded Startups, Launches CoE on Cybersecurity Along with T-Web, T-SWAN

The draft framework of the policy states that the Blockchain District will house all major blockchain technology companies and will have a huge incubator and a world-class facility for promoting research, innovation and industry collaboration.

This one-of-its-kind initiative will aim to put all blockchain companies based out of Hyderabad at a strategically advantageous position globally. Telangana government has already announced the start of a blockchain district in the state earliier this year and has partnered with Tech Mahindra.

Earlier in 2016, Telangana state government had also released a unique Internet of Things (IoT) and Smart Technology Policy to encourage IoT based product development companies and other innovations in Telangana.

RELATED READING  India Behind Only U.S. in Countries with Most No. of Blockchain Developers

In February, Chinese smartphone maker Oppo signed a Memorandum of Understanding (MoU) with the Telangana state government to support and develop the startup ecosystem in the state. As part of the agreement, Oppo would provide technical expertise and mentoring support to startups helping the government create a supportive startup ecosystem for working in camera and image processing, battery, networks (5G), system performance, payments, Artificial Intelligence (AI) and gaming.

Source – Telangana Today

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