TS govt aims to make state as ‘Blockchain Capital’ of country

Hyderabad: Confederation of Indian Industry (CII), Telangana organized Blockchain Summit, with the theme ‘Demystifying the Opportunities & Applications of Blockchain’ here in Hyderabad.  The conference aimed at briefing industry on the applications of blockchain technology and how Indian Industry can leverage this technology.

Mrs Ramadevi, OSD & Director – Emerging Technologies, ITE&C Department, Govt. of Telangana in her keynote address mentioned that the Government of Telangana has been studying relevant use case study for the adoption of Blockchain Technology. The State Government aims to make Telangana as Blockchain Capital of the country by creating Blockchain district which will provide skilled talent, infrastructure, R & D support and vibrant communities.

During his welcome address, Mr D Raju, Chairman – CII Telangana & Managing Director & CEO, Kirby Building Systems & Structures India Pvt Ltd. said that Blockchain technology has gone far beyond its beginnings in banking and cryptocurrency. In 2019, businesses are expected to spend $2.9B on the technology, up almost 90% from 2018, as per IDC.  The global Blockchain technology revenues is expected to climb to over 23.3 billion U.S. dollars in size in the next 4-5 years.

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Speaking on the occasion, Dr Santanu Paul, Chairman – Innovation Council, National Payments Corporation of India (NPCI) & MD, TalentSprint in his special address shared applications of blockchain technology in Trade finance, International remittance, Payment Clearance and Settlements. He said that Blockchain has immense potential as it promises automation of high trust and transactions at low cost.

Mr CVD Ramprasad, Director, STPI Hyderabad in his special address shared his views on how Blockchain and other emerging technologies can be leveraged to skill the graduates and create new jobs. He was of the opinion that it is very important that such technologies should reach common people.  

Mr Rama Iyer, President & CTO, Eleven01 in his special address spoke about the potential use of Blockchain Technology in Supply Chain and Manufacturing Sector. He stressed on the importance of regulatory framework, as it will give confidence to companies in Blockchain Technology space.

Mr Rajendra Prasad, Member – CII Telangana Digital Transformation and IT Panel & Director – Technical, Hexagon Capability Center India Pvt. Ltd. Delivered the vote of thanks during the conference.

The conference brought together the Industry, Academia, Startups and Blockchain Professionals in different panels to discuss their viewpoints on how to leverage Blockchain technology attended by about 150 particpants.  

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