An Indian state government is working with a giant IT-services multinational to build a district within the state capital dedicated to blockchain startups.
The IT department of the Telangana state government signed a Memorandum of Understanding (MoU) on Friday with Tech Mahindra, a publicly traded company based in India, which will see the two working together to build what they claim will be the first "district" blockchain "of the country.
Economic Times reported that the blockchain district will occupy an area inside Hyderabad – the state capital – with physical buildings to host and incubate blockchain start-ups from India as part of the push of the government to advance the development of technology.
According to the Business News Inc24, the state government will be primarily responsible for building the new district's infrastructure and providing political and regulatory support for blockchain startups.
Tech Mahindra, on the other hand, will offer competencies focused on the blockchain ecosystem and on technological skills. According to an announcement on Friday, Tech Mahindra is also working on the development of a customized blockchain platform for startups in the country, called the Eleven01 protocol.
As previously reported by CoinDesk, the IT giant has also worked with start-up blockchains to bring foreign solutions to the Indian market.
The blockchain district marks the last effort by an Indian state to promote the development of blockchain with initiatives supported by the government.
The neighboring state of Telangana, Andhra Pradesh, had already signed an agreement with a fund to begin development of a blockchain ecosystem as part of the Fintech Valley Vizag state initiative.
Meanwhile, both Andhra Pradesh and Telangana have also explored the blockchain technology to digitally rework their land registry records, as previously reported by CoinDesk.
Image of Hyderabad via Shutterstock