kerala plans to become the blockchain technology hub of India

Kerala Plans to Become The Blockchain Technology Hub of India

The Indian state of Kerala is actively exploring the usage of the blockchain technology era to fortify quite a lot of present programs, together with monetary. Hundreds of persons are already being skilled within the state to transform blockchain mavens.  A few of whom have already graduated, consistent with the state’s electronics and knowledge era secretary. He recently revealed the state’s plan to train 20,000 blockchain professionals.

5-Year Blockchain Technology Plans of Kerala

The state of Kerala is positioning itself to transform the blockchain technology hub of India. The state plans to make use of the era in quite a few spaces. Electronics and Information Technology secretary of the state, Shri M.Sivasankar told in his recent media interaction that:

We are looking for intelligent use of blockchain technology in specific domains in the next 5-years. So, that blockchain applications can be sustained. Companies that produce solutions based on the technology can sell it as products or services.

Kerala plans to use the blockchain technology to boost the efficiency of its existing financial system and to create a talent pool of blockchain professionals. According to the media, the government of Kerala is also trying to implement blockchain technology in several pilot programs, such as for land records, workforce management, organic food traceability, and immunization.

The state’s Electronics & Information Technology secretary also emphasizes on how the blockchain technology can benefit the state’s financial sector. Furthermore, how this technology benefits several banks, chit fund companies, microfinance lenders, remittance service providers, and other organizations in the state. Shri M. Sivasankar comments that:

Since there’s a huge financial market, we can provide the blockchain provider access to the market so that they can develop new concepts and models. The state’s strength in blockchain will be an incentive to attract the right companies that will trigger the blockchain ecosystem.

Kerala Blockchain Academy

At present, the Indian state Kerala has its own blockchain institute called Kerala Blockchain Academy (KBA). It’s an initiative by the state government under the Indian Institute of Information Technology and Management. Kerala Blockchain Academy was established in 2017 and offers certification programs, consultancy, and R&D activities.

In the meantime, KBA is a member and official training partner of Linux Foundation’s Hyperledger Project and a general partner of the R3 Consortium. Four initiatives have listed so far on the academy’s website. Powerhouse offers different blockchain certification programs as well as workshops, seminars, and corporate training on different blockchain technologies. Blockchain Research Group focuses on R&D activities and knowledge creation. The third initiative is Blockchain Garage, which focuses primarily on industry and government collaborations to develop solutions using blockchain technology, such as Ethereum, Hyperledger, Sawtooth, EOS, and Corda. The last is the KBA Innovation Club which aims to help students from academic institutions from all over the country deeply explore the potential of the technology. The academy’s website also has a nationwide job listings page.

How Kerala Become the Talent Hub for Blockchain Experts? M. Sivasankar Explains

Through the academy, Shri M. Sivasankar foresees Kerala becoming a talent hub for blockchain technology experts. The secretary recently said that the state plans to train 20,000 people in blockchain development over the next two years. He additionally revealed:

Around 2,000 of them have for the next level in the blockchain developer program and 800 have graduated to date.

Several Indian ministries and local authorities have independently explored the use of blockchain technology. Minister of State for Electronics and Information Technology Shri Sanjay Dhotre detailed in November 2019 that the steps have taken by the government to promote blockchain technology to Lok Sabha, the lower house of India’s parliament.

He also said that the Ministry of Electronics and Information Technology had identified blockchain technology as an important research area with application potential in various domains such as governance, banking and finance, and cybersecurity.

Recently, the National Payment Corporation of India announced its permissioned blockchain-based platform called Vajra.  It aims at making payments fast and secure.

So, what do you think of Kerala’s plan to become the blockchain technology hub of India?