The Andhra Pradesh (AP) Government, a branch of the federal government of India which rules the state of Andhra Pradesh, is collaborating with leading technology and Blockchain startups in Singapore and the University of California to establish a Blockchain technology institute.

JA Chowdary, IT advisor at the AP government, stated in an interview that local government officials have completed several preliminary discussions with the University of California (UC). IT advisors and researchers at the AP government will design the Blockchain Institute of Technology based on the agreements between UC and the government.

Chowdary noted that upon its completion, the Blockchain Institute of Technology will assist government agencies, major financial firms and corporations in approaching the Blockchain technology and strategizing various implementations.

Specifically, the AP government believes that the Blockchain technology will be widely integrated into existing government systems, in areas such as e-office, e-cabinet and procurement portals. Researchers at the AP government explain that the Blockchain technology and its decentralized nature will secure sensitive government information from hackers and security breaches.

Initiative to lead the Asian Blockchain market

Chowdary also stated that the establishment of a Blockchain research institution will allow the state of Andhra Pradesh to lead the Indian Blockchain market as well as the Asian FinTech industry.

Considering the surging demand for Blockchain talents, developers, and platforms, Chowdary adds that the Visakhapatnam-based Blockchain Institute of Technology will garner talents and train individuals to comprehend the Blockchain technology and explore its potential in non-financial markets.

Chowdary stated:

“We want to brand Vizag as the financial technology capital of India and we will generate the manpower for this technology. We want to create manpower. We are going to train people in Blockchain technology."

Lack of Blockchain talent

Recently, cybersecurity tycoon and entrepreneur John McAfee stated on social media that him and his team are actively searching for developers and experts that have fundamental knowledge on the Blockchain technology.

Other major corporations and high profile entrepreneurs are struggling to find learning Blockchain talents, due to the sophistication and complexity of Blockchain-based systems.