In order to increase the use of blockchain technology in administrative services, state officials of Telangana signed MoUs with several blockchain startups and consultants on July 26, 2018.
Crypto in Telangana
According to the Telangana’s IT and Industries head Jayesh Ranjan, blockchain technologies have at least “six or seven” government applications. To bring transparency and mitigate fraud in the 2 middlemen dominated business, Telangana had earlier initiated the blockchain technology implementation. Ranjan revealed that transparency will be maintained by using blockchain technology. Moreover, the citizens would also be helped to track sensitive information. However, Ranjan refused to comment on any particular implementation, which makes the execution of this plan still doubtful.
Telangana is said to be one of the few literate states of India. The capital city of the state, Hyderabad has various IT and software firms which have engineers across the globe working under them. Telangana’s blockchain based land registry is said to be the one “where anyone can see who holds the land.” The protocol was merged with the state’s revenue department to ensure end-to-end transparency of records while maintaining the “integrity of the information”.
Support from crypto seniors
Tim Draper, along with political personalities and senior members from ICON, Binance, NEO, and Huobi is expected to speak at the International Blockchain conference. Organised by Nucleus Vision founder Abhishek Pitti in Hyderabad, the event will be on August 3, 2018. This event will feature state governments of Telangana and Goa along with India’s authoritative body on strategic planning in rural and urban area NITI Ayog. Knowing the country’s well-known hate towards cryptocurrency and similar sectors, it is yet to be seen what will be the government’s reaction at the given magnitude of speakers in the event.
Moreover, Telangana’s IIT Hyderabad was one of the institutes to receive Ripple’s $50 million educational grant in June 2018. The grant aimed at increasing research and development in the areas of blockchain and cryptocurrency.