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The state government of Haryana has decided upon setting up a centre of excellence (CoE) to facilitate all the upcoming startups with guidance for research and invention in Blockchain technology. This brand new, one of a kind CoE centre will be erected at the Electronic City in Udyog Vihar, Gurugram. This helpful endeavor will be monitored by the Software Technology Parks of India (STPI), which falls under the ministry of Electronics and Information Technology.

The state government felt the need to come up with this Centre of Excellence and that too in Gurugram of all places is due to the fact that it has become the hub for more than a 1,544 startups alone, according to a report by TiE Delhi-NCR. These startups use a technological advancement known as blockchain. This is a ledger technology which incorporates all necessary and sensitive information for the firm and is to be kept under locks at all times. Its makes blockchain a substantial slice of technology, which becomes necessary for all start ups to comprehend.

Blockchain being the ledger technology it is, has usage across vast dimensions and those startups using it are spanned out in elaborate fields of finance, governance, and supply chain. So, the CoE centre will prove highly advantageous and give quality cognizance to potential startups.

STPI additional director Amit Bansal says ” “The CoE wants to use Gurugram’s startup ecosystem to mentor, fund and provide an environment for startups to grow. Many blockchain startups die early due to lack of investments and exchange of knowledge and practices,”.

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Via a sophisticated process, this upcoming CoE will come up with a list of startups it will be looking to nurture by the first quarter of 2020.

Last year in October, NASSCOM collaborated with the Haryana government to launch Centre of Excellence (CoE) for Internet of Things (IoT) , which too is in Gurugram. The CoE is part of NASSCOM’s nation-wide network of CoEs announced in 2015.

Additionally, the upcoming blockhain CoE will also make an agenda to aim at global investments in the rapidly multiplying blockchain technology market in India. This is due to considerably large blockchain investment in India of a whooping $5.3 million in the first half of the year 2019. This is huge in comparison to the global investments of $2 billion done globally. The CoE centre will provide further boost to the blockchain market in India.

Similarly, Indian giants like Tech Mahindra has also intervened to provide blockchain solution to the Abu Dhabi Department of Urban Planning and Municipalities (DPM), as disclosed by them just a couple of days ago. The agenda to be resolved via this technological intervention is to increase citizen-government limpidity and a thorough, much easier trail follow up of records, security and data archival.

Source ~ Hindustan Times

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