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AP Government Signs MoU with Blefrics Global, To Assist in Developing Blockchain Ecosystem

March 15, 2018 18:29
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The global acceptance of Blockchain technology as a technology of future has led many governments and non-government entity around the world to implement it in their daily business affairs. The Indian state, Andhra Pradesh which is very optimistic about the use of Blockchain technology has announced on Wednesday a yet another signing of MoU with a Malaysia based cryptocurrency player Belfrics Global.

The scope of the MoU includes setting up of blockchain academy in Vizag with Gitam University and development of blockchain application in several government initiatives. Earlier this month, the government has signed a MoU with New York-based Consensys on the similar line with an aim develop blockchain understanding among people.

J.A. Chowdary, special chief secretary and IT advisor to the Andhra Pradesh chief minister said, “The government is also looking to provide the Proof of Concept (POC) for implementing blockchain technology in supply chain logistics, tender issuance and bidding”.  He added that the state government will assist Belfrics in developing critical manpower for developing the blockchain industry.

Praveenkumar Vijayakumar, founder of Belfrics Global said that he is expecting a huge demand for blockchain technology from India and is in talks with several other state government on the similar lines. Belfrics will work closely with the state government for ID management, supply chain management, education, payment solutions and business automation.

Jabeer K.M, COO of Belfrics Group said: “We are looking at penetrating the Indian market by developing innovative blockchain based solutions across Industries. We believe this will help us reach our revenue targets of Rs 100 crore by 2020. We will also be looking at hiring 100 blockchain developers in India as well as in Malaysia.”

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