Blockchain, the fledgling technology that promises to change the way people and businesses transact, providing convenience and security, is in for a big boost.

While Tech Mahindra is setting up a Blockchain district in Hyderabad, Eleven01 Foundation is developing an exclusive Blockchain protocol to suit the country’s needs, and the Union Government is establishing a Centre of Excellence on Blockchain here.

Besides, the International Institute of Information Technology, Hyderabad (IIIT-H) will make part of its protocol development research to the virtual cluster of Blockchain district.

Virtual cluster

Tech Mahindra and the Telangana government signed an agreement here on Friday to establish the Blockchain district, a first-of-its-kind Centre of Excellence for Blockchain.

Initially it would be a virtual cluster, connecting with the stakeholders working in the emerging technology. It would have a physical building at a later phase. Tech Mahindra Managing Director and Chief Executive Officer CP Gurnani termed it “a cluster of buildings”, which will house start-ups and other stakeholders working on the development of the platform.

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

He announced the establishment of the centre on the sidelines of the inaugural day of an international conference on Blockchain. The two-day conference is being attended by start-ups, IT majors, academicians, policy makers and regulators.

On its part, the Telangana government would provide regulatory and policy support to promote the growth of Blockchain.

Blockchain CoE

The Union Government will set up a Centre of Excellence in the technology. To start with, C-DAC will develop a pilot solution for Property Registration System. If it works well, it will be rolled out to other States as well.

Eleven01 Foundation will develop an India-specific protocol that will define the standards for usage of Blockchain.

“Though we can use some global standards being formulated for Blockchain, we can build our own as the technology is in initial stages of development. This can be integrated to other platforms,” an executive involved with the project told BusinessLine .

The Telangana government also signed an agreement with IIIT-H to work on protocol development, incubation, acceleration and identifying various cases for Blockchain technology.

Zebi Data and IIIT (Basar) entered into an agreement to keep tabs on fake certificates, using Blockchain technology.

Tech Mahindra and Nucleus Vision announced a partnership to implement Blockchain in retail and telecommunications space.