Indian state seeks to create a blockchain district

The state of Telangana in southern India plans to establish the first blockchain district in the country for startups

The Indian district will aim to establish an ecosystem for startups and blockchain research institutes. The initiative seeks to attract a large number of blockchain projects.

The program emphasizes those who work to develop blockchain applications for the banking sector, financial services and insurance, the pharmaceutical industry, healthcare, logistics and supply chain management, as well as solutions for government sectors.

In the same way, the main strategy for establishing the district will be to offer concessions and substantial benefits, including tax rebates, state-sponsored cloud storage subsidies, and financial grants.

Likewise, the policy of the state in question will also aim to establish a joint work space, an international liaison office, an incubator for the startup in its initial phase, a regulatory sandbox and a research and development institute in Telangana.

Discussions and plans to design the state were approved in an agreement with the Indian IT multinational Tech Mahindra last year. Courses on distributed technology will also be designed in cooperation with the Telangana Academy for Training and Knowledge with recognized figures of the cryptographic ecosystem.


Source: Cointelegraph

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