Tech Mahindra hopes to make India the 'blockchain capital of the world' after announcing its plans to create a major new hub in Telangana.
The so-called 'blockchain district' will be a centre of excellence for the development of distributed ledger technology (DLT), built around innovative infrastructure and facilities to foster growth of Indian blockchain startups and companies.
Tech Mahindra, one of the biggest IT service providers globally, has signed a Memorandum of Understanding (MoU) the Telangana State Information Technology, Electronics and Communication department. It will provide platform and technology assistance to all the incubators in the the designated region.
The Telengana ITE&C department will provide regulatory and policy support to enable and promote blockchain growth both in India and globally.
"The launch of the blockchain district is a moment in history, a global talent hub which can unlock the value of blockchain technology in democratizing data and solving big scale world problems," said C P Gurnani, CEO & MD, Tech Mahindra. "It is also a huge step in reskilling and right skilling the workforce of the future. Blockchain experts will be our crowning jewels as together we work towards making India the blockchain capital of the world."
IT Minister, K T Rama Rao, added: "With support from Tech Mahindra, we envision to set a global benchmark in providing cutting-edge blockchain technology solutions and platforms across industries. It is not just a proud moment for Telangana but India as a global leader in the digital era."