Indian State Of Telangana To Partner With Blockchain Firms To Streamline Public Services

Blockchain, News | July 27, 2018 By:

The Indian state of Telangana will be signing memorandum of understandings (MoU) with blockchain firms to adopt the technology in some government applications.

The government of Telangana, the twelfth largest state and the twelfth-most populated state in India, said that they are planning to implement blockchain technology in “six or seven government applications” in order to bring more transparency and efficiency to public services.

“We are planning to implement Blockchain Technologies in six or seven government applications,” said Telangana’s IT and Industries Secretary Jayesh Ranjan. “We will be signing MoUs with a few companies in the upcoming International Blockchain Congress to be held next month.”

The International Blockchain Congress will be held at Telangana’s capital Hyderabad from August 3 till 4. The finishing day of the event will be held at in Goa on August 5. The upcoming event is expected to be attended by more than 3,000 participants, featuring over 80 speakers. Abhishek Pitti, CEO of Nucleus Vision and organizer of the event, said that Telangana Minister for IT and Industries KT Ramarao, Goa IT minister Rohan Khunte, NITI Aayog CEO Amitabh Kant would be among the guests at the event.

“The new form of technology is an emerging frontier for blockchain globally,” said Pitti. “It will revolutionize the business and creates trust in the system.” Nucleus Vision believes India has all the strength to become a global leader in this space.”

Keeping in line with the Indian government’s stance on cryptocurrencies, Ranjan said the Telangana government too does not recognize them as valid currencies.

“The Union IT Minister on multiple occasions has announced that India has not permitted bitcoin in an official way,” Ranjan said. “The state government’s stance is no different. Our stance is that we have to wait and watch cryptocurrencies: what is happening, regulations and mechanism.”