Vizag Blockchain Business Conference 2017: Nara Lokesh IT Minister of Andhra Pradesh on 9th October Tuesday said Amaravati would develop into the first state in India to have land registry adopt blockchain technology for land deal records switching to digital future. The conference aims to trigger startups, corporates, local and global investors to eye Vizag city.
Land Registry with Blockchain Technology
Reveal this to the media on the occasion of two-day Blockchain Business Conference which concluded here along with Special Chief Secretary and IT Advisor to Chief Minister J.A. Chowdary and AP Electronics and IT Agency CEO (Promotions) Tirumala Chamalla, Mr. Lokesh said Union IT Minister Ravi Shankar Prasad and IT Secretary Ajay Sawhney had promised to sanction funds for the ambitious project.
“Once implemented, we will have the unique distinction as the first State to have land without any dispute over title deeds,” he said.
Andhra Pradesh Road Transport and Registrations
Andhra Pradesh has become the first state in India to use blockchain technology in the two departments of road transport and registrations as a pilot project.
Lokesh also announced the establishment of the main centre by California-based Enterprise Resource Planning (ERP) Cloud firm, Zoho in Tirupati.
“We are expecting to break the ground sometime in November,” he said.
Refusing to divulge information on investment plans by the company, he said it would create employment opportunities for many. He said after Visakhapatnam, which is the natural choice for investors, Amaravati and Tirupati were emerging as rendezvous for investments in IT and electronics.
What is Blockchain Technology? Beyond Bitcoins
Blockchain Technology developed by the Cryptocurrency: With countries like China and India trying to standardize the transaction of bitcoins and their issuance through blockchain, more people including netizens seem to have become interested in the Cryptocurrency technology.
“A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.”