Blockchain initiative from TS, Tech Mahindra

New Delhi: IT services firm Tech Mahindra on Wednesday announced on Wednesday the launch of T-Block Accelerator, an accelerator programme for Telangana Blockchain District.

The programme has been launched in partnership with the Telangana government and innovation management firm IBC Media. The launch of T-Block is a step-in continuation of the Telangana government's endeavour to make Telangana as the 'Blockchain Capital of the World', a statement said. A pact had been signed between the Government of Telangana and Tech Mahindra to this effect in 2018, it added.

"This initiative is aimed at start-ups that have a strong blockchain use-case, thereby accelerating the start-up growth and therein contributing to the growth of the overall industry," the statement said.

Blockchains can broadly be defined as a new type of network infrastructure (a way to organise how information and value moves around on the internet) that create "trust" in networks by introducing distributed verifiability, auditability, and consensus. Blockchain is seen as a technology with the potential to transform almost all industries and economies. Jayesh Ranjan, principal secretary (information technology, electronics and communications department) in the Government of Telangana, said the accelerator will be a "torch-bearer" to multiple future blockchain accelerators in the country.

"Through this initiative, Tech Mahindra will enable creation of an ecosystem which will empower start-ups to solve tough business problems for clients across diverse industry verticals. The Telangana government will help provide the required regulatory framework to enable and promote Blockchain growth," the statement said.

Rajesh Dhuddu, global practice leader (blockchain) at Tech Mahindra, said the company aims to build a world-class support infrastructure for blockchain start-ups and make Hyderabad a destination of choice among several new-age entrepreneurs and blockchain evangelists.

"We look forward to successfully run the T-Block Accelerator and build the public blockchain ecosystem in India," he added.

Participating start-ups will receive mentorship and guidance from leading experts in the start-up and blockchain space. The programme includes workshops, presentations, discussions, and assignments designed to impart the practical knowledge required to build relevant blockchain products with real-world applications. (PTI)