The Telangana State Information Technology, Electronics and Communication department (ITE&C) on Friday signed an MoU with Tech Mahindra to launch India's first Blockchain district here.

Hyderabad: The Telangana State Information Technology, Electronics and Communication department (ITE&C) on Friday signed an MoU with Tech Mahindra to launch India's first Blockchain district here.

It will be a centre of excellence, an incubator and process development for the emerging technology with innovative infrastructure and facilities to foster growth of Indian blockchain start-ups and companies, Tech Mahindra CEO and managing director CP Gurnani said at the International Blockchain Congress 2018 here.

Tech Mahindra as a founding member of the blockchain district will provide the platform and technology assistance to all the incubators in it, he said.

Tech Mahindra will also empower accelerators to develop and solve market problems across its global customer ecosystem.

Further, the Telengana ITE&C Department will provide regulatory and policy support to enable and promote Blockchain growth both in India and globally.

The launch of the Blockchain district is a moment in history, he said adding it would be a global talent hub which can unlock the value of blockchain technology in democratising data and solving big scale world problems.

"It is also a huge step in reskilling and right skilling the workforce of the future. Blockchain experts will be our crowning jewels as together we work towards making India the blockchain capital of the world," he added.

It will provide an opportunity for the blockchain ecosystem in India to collaborate and work towards building a blockchain district in Telangana and transforming India as the blockchain capital of the world, he said.