Indian State Of Andhra Pradesh, Eleven01 Foundation Partner On Blockchain
The Andhra Pradesh Innovation Society (APIS) has partnered with the Eleven01 Foundation to promote blockchain technology in the region.
The APIS was established by the government of the Indian state of Andhra Pradesh to provide guidance through incubation centers and help in commercialization of ideas of startups through product development, market research and exposure.
The Eleven01 foundation is a blockchain conglomerate that provides services across the blockchain ecosystem and has partnered exclusively with Tech Mahindra for technology innovation to create the Eleven01 Protocol, an emerging market centric blockchain protocol with government compliance standards.
The organizations is working together to explore the prospects of blockchain technology through events, activities and mentorship programs to nurture talent and develop a community. The goal of the partnership is to foster the creation of the finest blockchain development ecosystem in Andhra Pradesh, the seventh-largest state in India, with a population of around 50 million.
“We truly appreciate what the Eleven01 team is trying to do and we are happy to associate with them to bring advanced development and innovations with regard to the blockchain realm in the state,” said J.A. Chowdary, IT advisor and special chief secretary to the chief minister of Andhra Pradesh.
Ramachandran Iyer, Eleven01’s chief product officer, said that the association with the government of Andhra Pradesh is a significant development in making India a blockchain powerhouse.
“We visualize India to be a blockchain-hub and the support from the state here brings us a step closer to achieving that,” Iyersaid. “Together, we will contribute towards the development of the best blockchain-ready talent pool and innovations in the state.”
Earlier this year the government of Andhra Pradesh partnered with local firm Covalent Fund to start a blockchain ecosystem as part of the state’s FinTech Valley in Vizag initiative. Last year, the state announced a partnership with blockchain startup ChromaWay to develop a blockchain solution for land registration problems. The state also partnered with Swiss cybersecurity company WISeKey to secure citizen data with blockchain technology.