Recently, the Telangana state government has announced the signing of a Memorandum of Understanding (MoU) of its IT department with Tech Mahindra, a publicly listed firm with headquarters in India, for building two teams that will be the country's first blockchain district.
It is an initiative for making a district within the state capital as blockchain startups.
According to Economic Times states and Inc24, business news outlet, the blockchain district will be in Hyderabad that helps blockchain startups under the part of the government's tech's development plans as well as building the infrastructure for blockchain startups.
Tech Mahindra will also offer expertise that will be focused on blockchain ecosystem and technological skills. According to an announcement the company is also working on developing a blockchain platform for startups in the country.
Moreover, the IT giant is overseeing blockchain startups to bring solutions to the Indian market.
The blockchain district will help the Indian state to advance blockchain development with government-backed initiatives.
Previously, Andhra Pradesh has also signed an agreement with a fund regarding blockchain ecosystem development under the Fintech Valley Vizag initiative.
In the meantime, both the states also working for blockchain technology to digitally rework their land registries.