Andhra Pradesh govt signs MoU with NY-based Blockchain tech firm, ConsenSys

The partnership seeks to incubate an innovation ecosystem for blockchain technology in Andhra Pradesh.

Fintech Valley Mar 07th 2018 A-A+

The government of Andhra Pradesh has signed a Memorandum of Understanding (MoU) with NewYork-based blockchain technology powerhouse ConsenSys, as an additional step to bolster the state’s Blockchain ecosystem. The partnership seeks to incubate an innovation ecosystem for blockchain technology in Andhra Pradesh. Through this MoU, ConsenSys will provide strategic technical advisory to prioritise and pilot use-cases in the area of Blockchain for the State of Andhra Pradesh. The areas of collaboration include land titling, supply chain, identity platform, electronic health records, etc.

The Government of Andhra Pradesh and ConsenSys are also collaborating to establish the first Indian cohort of ConsenSys Education – an institute that will develop blockchain-centric education programmes by leveraging ConsenSys’ proprietary educational content. The Government of Andhra Pradesh will help drive recruitment efforts for ConsenSys Academy pan India and will also subsidize infrastructural and operational costs for the project.

Commenting on the development, Nara Lokesh, IT minister, Government of Andhra Pradesh said, “The Government of Andhra Pradesh has taken a lead in the country by incorporating Fintech including cybertech, Artificial intelligence, analytics and especially Blockchain as its key strategy for FY18. We believe that Blockchain technology has tremendous potential to revolutionize the way governments, institutions, and corporates function and is on its course to become the new normal. It also has the potential to transform multiple industries and make processes more democratic, secure, transparent, and efficient. The State governmen has already taken the lead in introducing blockchain and has a vision of becoming blockchain-enabled through its digital assets by 2019”

On the newly-inked partnership with the Government of Andhra Pradesh, Kavita Gupta, executive director of ConsenSys said, “As the State of Andhra Pradesh swiftly transitions towards becoming a promising fintech ecosystem, with Blockchain at its epicenter, we are pleased to partner with the GoAP to take the lead on this next generation technology – web 3.0 and entrepreneurship. Blockchain opportunities are naturally aligned with natural democratic systems like India and it is an opportune time for the State of Andhra Pradesh to become a leading destination in Blockchain and provide more power of data and transparency back to people.”

On the setting up of the Consensy Education in Andhra Pradesh, Kavita Gupta, added, “Traditional education programs cannot keep up with the rapidly developing pace of Ethereum and blockchain as a whole. There’s a need to continue educating new participants in the blockchain ecosystem. The ConsenSys Academy is a blockchain education platform with the mission of bridging the deep Ethereum knowledge gap and revolutionizing education through blockchain technology. ConsenSys’ focus for 2018 and beyond will be to uphold its growing responsibilities as a purveyor of this revolutionary technology.”