State Government from India Will Recognize Web2 and Web3 Blockchain Startups

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The state government of Telangana has just announced it has launched the India Blockchain Accelerator program, an initiative aimed at fostering early-stage Web2 and Web3 startups and blockchain developers.

According to the press release shared by the company, the program will be rolled out in cooperation with crypto exchange CoinSwitch Kuber and tech innovation management company Lumos Labs.

Rama Devi Lanka, Director Emerging Technology and Officer on Special Duty (OSD), ITE&C Department, Government of Telangana, has said:

“Some of the interesting use cases that the state has already piloted in Blockchain include – T-Chits (Chit funds in Blockchain), Supply Chain (Seed Traceability), E-voting (Digital Voting platform built using Blockchain and AI) and more.”

The blockchain accelerator initiative will be open to early-stage Web2 and Web3 startups and blockchain devs and will focus on blockchain-based solutions from multiple sectors, including fintech, entertainment and healthcare, among others.