Andhra Pradesh, a state in India known for his efforts in the study of blockchain applications, and promotes this goal through a new agreement with the local firm of the Fund.
According to a tweet the state government of Andhra Pradesh signed a Memorandum of understanding with Covalent Foundation to start the blockchain ecosystem initiative of the state South of Vizag the valley of financial technology.
The partnership also will soon launch a blockchain University with an initial investment of $ 10 million, reports the post.
According to the Business news outlet Inc42 Covalently Fund will help to ensure the blockchain startups greater access to capital and other resources, and to develop blockchain-stack.
The government hopes to integrate the blockchain platform in official business by next year, said the it Minister of Andhra Pradesh Nara Lokesh, according to Inc42. Part of the goal is the development of transparent management through the blockchain.
The announcement marks the last step the seventh-largest Indian state in promoting the use of blockchain technology. Last year the government announced a partnership with blockchain ChromaWay launch of a pilot land registry and registry of individual partnership with the cyber security company WISeKey to protect personal data in the blockchain.