Blockchain and IoT are the Future for Andhra Pradesh

Formation of Telangana has impacted Andhra Pradesh in a big way economically as Hyderabad will be taken over by the former in next 10 years. Andhra Pradesh CM, Chandrababu Naidu, the man who single-handedly built Hyderabad into India’s largest IT hub once, is not resting. He now has a dream of creating five lac jobs in the state by 2020. And he is not waiting for anyone.

Naidu’s Plan of Action

Hyderabad brought in a revenue of whooping 75,000 crore in FY16. The only way AP can make it big now is by focusing on the future trends. And Naidu is fully aware that IoT and blockchain are the future of tech. He has identified two key areas- cyber security and fintech- which will greatly benefit from these two technological advancements. To help develop necessary skillset for the same, the government is now backing labs and college courses to train the professionals. Naidu has stated that they have already partnered with Israel on cyber security, and for creating a blockchain center in Vishakhapatnam, they have joined hands with the University of California, Berkley. These are the next-gen technologies that will help attract companies to the state.

Blockchain Explained

Blockchain is a secure online shared database for all stocks, assets and digital tokens-related transactions. Moreover, data on it cannot be tampered with. Once it’s saved into the system, the data is secured and no one can modify it. People can deal in all these stocks, assets and even reward points online just like they do with bitcoins.  Watch this video to understand how it works.

With such collaborations and planning, Andhra Pradesh is surely poised to become the IT hotbed of India once again. With Naidu’s vision, the task doesn’t seem impossible at all.

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