Indian State Government Partners with Blockchain Companies to Ramp-up Blockchain Growth

• Toshendra Kumar Sharma
• May 08, 2020

T-Block Accelerator, the accelerator program under the aegis of the Telangana Blockchain District, announced its partnership with Aeternity, Harmony, and Matic Network to ramp up blockchain growth.

 

Telangana Today stated that the three blockchain platforms, Aeternity, Harmony, and Matic Network, would help Telangana-based startups work on “strong blockchain use-case” with their blockchain solutions; thereby accelerating in the growth of the overall industry. The report added that the platform integrators are fast, secure, scalable, next-gen blockchain protocols that are implemented to assist startups in building scalable and decentralized solutions to everyday issues.

 

T-Block’s Collaboration Will Provide Technical Solutions

 

T-Block’s collaboration is expected to help startups at all levels of product development and deployment.

The Matic Network, India’s homegrown public blockchain network, will provide a high-scale platform for decentralized applications(dApps). The Aeternity blockchain, engineered by Yanislav Malahov, provides scalable smart contracts for dApps and the Harmony Protocol, a Silicon Valley-based Proof-of-Stake(PoS) blockchain, will enable fintech startups to create and transact digital assets on its global ledger with almost near-zero transaction fees and instant confirmation.

 

The T-Block Accelerator,  launched in February 2020,  has completed its deal flow, and selected Indian startups will experience a one-week boot camp, followed by a four-month-long intensive training program. Jaynti Kanani, CEO & co-founder, Matic Network, commented, “in addition to mentoring the startups, our in-house experts will also join the judges’ panel to select the startups that will go on to the next level of acceleration and aid with financial grants to support the startups through their journey.” She added that the startups would be trained to use the platform depending on their projects’ requirements. 

 

Besides technology implementation, the accelerator program also plans to provide startups with support in Europe to promote their plans further into the market.  According to Nikola Stojanow, CEO of AE Ventures and CBO of Aeternity, India has a flourishing blockchain ecosystem, and they feel happy to be a part of this growth.

 

“Having concluded the first edition of Starfleet India Accelerator recently, we are excited to join this initiative by the Telangana government and Tech Mahindra for T-Block and look forward to supporting the startups with our GMT access in the European countries,” he added. Sahil Dewan, the co-founder of Harmony, also expressed his views regarding the partnership.

 

“With our partnership with T-Block Accelerator, we are confident of India’s technology prowess and are excited to enable the creation and innovation of highly-scalable and secure FinTech solutions from India.”, Sahil added.

 

According to the Telangana government’s blockchain initiative and emerging technologies director Rama Devi Lanka, building synergies among all the stakeholders in this ecosystem will drive India’s blockchain revolution, and she stated that “We are happy that our T-Block Accelerator is partnering with these platform protocols to strengthen this ecosystem.”

 

She added further, “As the first government-led blockchain accelerator, this partnership is a true testimony to how a synergy between the government body and private players can support innovators in their entrepreneurial journey and will help build, scale, and create amazing opportunities for startups. We are excited to see how the startups will benefit from these partnerships.”

 

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