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Andhra Pradesh becomes the first state to deploy blockchain technology

Andhra Pradesh becomes the first state to deploy blockchain technology

They were talking to reporters on the sidelines of blackchain business conference being organised by Fintech Valley Vizag.

The Andhra Pradesh government is considering an amendment to the Shops and Establishment Act to boost digital payments over cash transactions, as per media reports.

The largest bourse NSE is planning to open a data centre in Vishakhapatnam, Andhra Pradesh IT Minister Nara Lokesh said here today.

Lokesh said the investments will start coming in the next 60 days.

Lokesh also revealed that a New Jersey-based company, Conduent, was setting up a 5,000-seater facility in the city while another major company had agreed to set up another centre here, generating 5,000 more jobs.

The government of Andhra Pradesh is exploring technologies like blockchain that can help solve these problems by decentralising data storage in such a way that it becomes hard to manipulate without both having the proper authority, and following proper protocols.

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"Our vision is to transform Fintech Valley Vizag into a global fintech capital by enhancing a fintech ecosystem of start-ups, financial Institutions, technology vendors, incubators, accelerators, innovation labs, and investors to contribute and thrive in this ecosystem", he said. Wipro is also keen to have its presence. In addition to this, six companies which won the awards at the conference, said they will set up their operations.

"We are very excited to be the first state in the country to use Blockchain pilots and we are the first to create a repository".

The test platform being built with ChromaWay is part of the Fintech Valley Vizag, the flagship initiative of the government of Andhra Pradesh. Most recently, officials there worked with Swedish blockchain startup ChromaWay on a new land registry pilot.

Shri Lokesh Nara, IT minister, Panchayati Raj and Rural Development, government of Andhra Pradesh said, "Having set the benchmark as the first state in India to embark on digitization of government services on such a large scale, we have further raised the bar by extending the project to cover electricity, municipal taxes, transport and tourism payments".

He believes the new technology would help the government protect its IT assets.

On the promotion of IT at Amaravati, the upcoming capital city, he said that earnest efforts were being made in that direction at Amaravati as well as at Tirupati and other places.