Telangana is Global Blockchain Business Council’s Ambassador to India

Hyderabad: The Global Blockchain Business Council (GBBC) has nominated the Telangana government as Ambassador to India. The GBBC, conceived on Richard Branson’s Necker Island, is a Swiss-based non-profit organisation representing one of the most impactful technologies to emerge since the Internet.

The organisation brings together innovators and thought-leaders from over 50 countries to adopt blockchain technology by engaging and educating regulators, business leaders, and lawmakers on how to harness this ground-breaking technology to create more secure, equitable, and functional societies.

 

The move comes in the wake of Hyderabad’s Blockchain District, an ecosystem in blockchain, going global. Conceptualised and launched with a vision to place Hyderabad among the top 10 Blockchain cities of the world, Blockchain District has now established its presence in the international blockchain community. Hyderabad is uniquely positioned to take a leadership role in the development of blockchain technology due to the proactive approach of the government in adopting blockchain.

The presence of critical mass of industries leveraging blockchain technology, access to talent, support of entrepreneurship, and collaboration with enterprises is further accelerating the blockchain ecosystem.

Jayesh Ranjan, Principal Secretary, Information Technology and



Industries, said it was indeed a step closer to the government’s vision and “is an acknowledgement of the growth of blockchain ecosystem in Hyderabad by global forums.”

The Blockchain District is facilitating and enabling several initiatives pertaining to Blockchain technology by developing a talent pool, incubating start-ups, investing in research and development, building local communities, and more importantly, developing innovative blockchain-based government solutions to help citizens. Some of the areas where the government is implementing blockchain-based solutions include land records, securing students credentials, micro-finance, anti-drug counterfeiting, peer-to-peer energy trading, and credit financing.

Four user cases were officially accepted by ISO as entries from India, all of them from Hyderabad’s Blockchain District, and are currently being implemented across various user departments of the State government.

The GBBC’s first newsletter featuring India’s Blockchain District covered the hugely successful 5-day long Blockchain conference held in Hyderabad last month. Hyderabad’s Blockchain District had hosted the 6th International Plenary and Working Group meetings of ISO TC 307. The event saw more than 140 international Blockchain experts coming together to formulate international standards in Hyderabad, paving the way for the future of Blockchain Technology.