Telangana launches draft Blockchain Policy

This one-of-its-kind initiative will aim to put all blockchain companies based out of Hyderabad at a strategically advantageous position globally.

By Author  |  Published: 25th May 2019  1:29 pm

Hyderabad: With a proposal to make Hyderabad as the top 10 blockchain cities in the world, the government of Telangana has released its draft Blockchain Policy. The draft highlights the frameworks being set up for the blockchain ecosystem along with conceptualising of India’s first blockchain district.

“Taking a giant leap, the Government of Telangana has conceptualised India’s first Blockchain District which will be a physical area within Hyderabad and will aim to create the world’s best blockchain technology ecosystem,” said the draft policy released by the IT, Electronics & Communications Department of the Telangana government.

According to the draft framework, the Blockchain District will house all major blockchain technology companies; will have a huge incubator and a world-class facility for promoting research, innovation and industry collaboration. This one-of-its-kind initiative will aim to put all blockchain companies based out of Hyderabad at a strategically advantageous position globally.

The major highlights of the draft policy include the development of talent pool by collaborating with industries; creation of shared infrastructure facilities that can be used by startups, industry, academia and communities; promotion of research and innovation and enable collaboration and focus on community building. Other than these initiatives, the government will also be providing incentives to enterprises, startups and other entities.