In a way to make the Hyderabad as one of the top 10 blockchain cities in the world, the State government of the Telangana has now release its draft blockchain policy. The draft highlights the framework is set up for the blockchain ecosystem along with the conceptualizing of the India first blockchain district.
“Taking a giant leap, the Government of Telangana has conceptualized 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.
The draft framework of the policy states that the Blockchain district will also house all the major blockchain technology companies and will also be going to have the huge incubator and a world-class facility for even promoting the innovation, research and industry collaboration.
Before that, in the year 2016, the State government of the Telangana had also revealed a Unique Internet of Things and Smart technology policy to encourage the IOT based product development companies and some of the other innovations in the Telangana itself.
In the month of February this year, the Chinese smartphone manufacturer Oppo has also signed an MOU with the government of the Telangana to support and even develop the startup ecosystem in the state. As a part of the agreement, Oppo would also provide with the mentoring support and technical expert to startups helping the government to create a supportive startup ecosystem for working in the image and camera processing, system performance, payments, AI, gaming, networks, and battery.