- Telangana Government has announced a draft blockchain policy to offer regulatory and policy support for blockchain startups based in Hyderabad.
- The policy was announced with an aim to make Hyderabad as one of the top 10 Blockchain cities of the world. It has also decided to create India’s first Blockchain district within Hyderabad.
- The Blockchain District will be based around four main pillars which are (a)Developing talent pool (b)supporting infrastructure (c)promoting research and innovation and (d)enabling collaboration and building community.
- The government would partner with the industry to establish a training and certification agency in the State for reskilling and upskilling of the workforce.
- Further,the office space for startups working on blockchain would be provided at subsidised rates.The policy would also focus on banking, financial services,pharma and healthcare, logistics and supply chain and public sector.
- Blockchain is a distributed ledger technology that stores information across multiple systems securely and such data stored and distributed cannot be copied, hacked or tampered with.Records can only be added.
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