The India Blockchain community can breathe a slight sigh of relief. Governments around the world are quickly realizing the potential of blockchain technology. Following Zug, the so-called Swiss Crypto Valley, many other countries have begun to catchup and started to form their own crypto cities.
In India blockchain technology and cryptocurrencies have had issues with the law many times. From the ban issued by the Supreme Court to the proposition for an 18% tax. Cryptocurrencies have been a hot topic, but an Indian state government with the help of a multinational IT giant wants to build a district focused on blockchain startups.
The blockchain district will be built by Tech Mahindra and the state government of Telengana. Located in the city of Hyderabad, it will offer buildings to house the Indian blockchain startups as the government is hoping to increase the tech’s development. All regulations, infrastructure and support must be provided by the state government in order for the blockchain startups to flourish. This will allow Tech Mahindra to use their blockchain platform which was made specifically for startups.
The India Blockchain development will profit greatly by the introduction of Eleven01
The platform is called Eleven01 protocol and was announced on August 3rd. For the platform to acquire an ecosystem of stakeholders, it will be partnering with over 10 startups, over 50 colleges and incubators. This isn’t the first Indian government to try and innovate with blockchain technology. In February, a report stated that the government of Maharashtra has announced 5 to 6 projects that will test blockchain tech. This can help deal with the many issues troubling the Indian public sector.
The government of Goa wants to use make sure blockchain tech is used the right way. Ameya Abhyankar, the secretary of the Goa Public Service Commission stated:
“Blockchain is a mystery to ordinary, that’s why people need to understand the basics of it. A big issue for us is cost efficiency. Our desire is to build a Centre of Excellence for Blockchain. We have a reliable social safety net, which we want to improve around blockchain. We want to attract as many innovators as possible and help them work and realize their blockchain related projects in Goa.”
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Tags:#Crypto City#ZugAmeya Abhyankarblockchain startupCrypto CitiesEleven01Eleven01 protocolGoaHyderabadIndiaRegulationsTech MahindraTelengana