Blockchain

The technological sector as innovative and convenient it can get with blockchain has cracked a very important deal within its realm. The company that aces this arena in the entire world and provides full service blockchain technology, the Bitfury Group company has struck a deal which will lead to the establishment of a blockchain research and innovation centre in Hyderabad. 

Blockchain is digital ledger system in which transactions made in bitcoin or another cryptocurrency is digitally recorded chronologically and publicly whenever a cryptocurrency is bought or sold.

Bitfury, entered into a partnership deal with Telangana’s Blockchain District to induce and further magnify this venture in India. This will not only assist and nurture but will also give relevant support to the people associated with it. 

The Telangana Blockchain District seem to be on a mission of expansion. Along with Bitfury, it also stepped into Alliance with the Indian School of Business. In this enterprise, Indian School Of Business will majorly benefit the upcoming Blockchain District startups by giving away co-working spaces, business advice and hands on key to the vast investor network.

The Principal Secretary, Information Technology, Electronics and Communications Department, Government of Telangana, Mr. Jayesh Ranjan, on this auspicious occasion publicly released a Blockchain District logo and a website too. 

Ranjan is of the opinion that “Blockchain District provides a platform which enables the stakeholders to collaborate, co-create and build solutions in blockchain technology, which today is at a nascent stage, but has enormous potential in the coming years,”.

Additionally he said, “Telangana being the hub of innovation and technology would always strive to be the first mover in tech-domains,”. 

There are four founding members of the Blockchain District namely, Government of Telangana, IIITH, C-DAC and Tech Mahindra. 

As we recall, Tech Mahindra recently rose in the news due to its collaboration with the Abu Dhabi Department of Urban planning and Municipalities (DPM), offering it blockchain services. 

Blockchain is seriously affecting another challenging the way everything has been handled by the technological world. In the near future, only those firms and companies will fare well who are well armed with the blockchain interface. Being the ledger technology that it is, along with its usage in today’s times is drastically reshaping any and every company’s outlook. 

For the same purpose, the State Government of Haryana last week decided to come up with the idea to educate and facilitate quality guidance for research to upcoming startups of Blockchain technology field. They have announced the establishment of a Centre of Excellence (CoE) for the same too. 

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