Blockchain : Telangana signs MoUs with Blockchain firms

Blockchain : Telangana signs MoUs with Blockchain firms

Here’s good news for Indian Blockchain enthusiasts – the Indian state of Telangana is planning to sign several memoranda of understanding (MoUs) with blockchain firms so as to explore blockchain technology for implementing it in state applications. While the national government has been delaying its decision on the status of cryptocurrencies in India, this is definitely a good news for Blockchain technology. Recently, a blockchain community in India had revealed the results of a research about blockchain engineers in India. It has said that 80% of the blockchain engineers in India are planning to move to other blockchain and crypto-friendly countries for better career opportunities. Well, to prevent this brain drain, we need many more such initiatives to promote the development of Blockchain. This is not essential for retaining our talent, but also for keeping pace with technological developments in the world and promoting socio-economic development in the country with the help of technology.

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What is the Blockchain?

A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency’s block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history.

Author: cheeryonion

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