According to an article published by
Inc42 on Friday, January 19, Andhra Pradesh, the eighth largest state in the country, is the Covalent Fund, a local company.
Andhra Pradesh, India’s management network, Velugu Core, which aims to locally adapt the Blockchain technology version of India Stack.
‘Velugu’, which means “lighting” in Telugu, the local language of the province, will be part of the ongoing Fintech Valley Vizag technology initiative.
In his comment to the Inc42 newspaper, Ram Yalamanchili, one of the partners of the Covalent Fund, described Velugu as follows:
” In accordance with the regulations made in India With this blockchain protocol designed, it is the largest, most open, and crypto-protected we are getting the source of the secure ledger.”
And he added:
“Blockchain is built on impressive protocols to engage with the market again and again. India’s Blockchain adventure after the government under Narendra Modi adopted this technology Gained momentum since 2016. However, although the most widespread use of Blockchain technology is among cryptocurrencies, the government of India makes a very sharp distinction when it comes to Blockchain and crypto money and does not look at cryptocurrencies very well. took place in the forms. However, the fact that it remained a small-scale enterprise has made Velugu a pioneer in equipping bureaucracy with Blockchain technology today.
Minister of Information Technologies Nara Lokesh:
“The Andhra Pradesh government predicts it will enable Blockchain with its digital assets by 2019. Besides being very optimistic about Blockchain as a technology platform, we are also keen to use it to provide transparent governance.”
They are also working on the “Blockchain university” project as part of their plans.. The partnership is ready to provide up to $10 million in grants for this initiative.
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