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ConsenSys In Deal With Indian State To Set Up Blockchain Academy

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India's southern state of Andhra Pradesh has signed a Memorandum of Understanding with the New York-based blockchain technology firm ConsenSys to incubate an innovation ecosystem for blockchain technology.

As part of the deal, ConsenSys will also develop blockchain-based education programs by setting up a ConsenSys Academy.

"The ConsenSys Academy is a blockchain education platform with the mission of bridging the deep ethereum knowledge gap and revolutionising education through blockchain technology. Traditional education programs cannot keep up with the rapidly developing pace of Ethereum and blockchain as a whole," said Kavita Gupta, executive director of ConsenSys.

According to the MoU, blockchain technologies will be utilized in the areas of land titling, supply chain, identity platform, electronic health records, etc. in the state.

ConsenSys is a venture production studio building decentralized applications and various developer and end-user tools for blockchain ecosystems, primarily focused on Ethereum.

"We believe that Blockchain technology has tremendous potential to revolutionize the way governments, institutions, and corporates function and is on its course to become the new normal. It also has the potential to transform multiple industries and make processes more democratic, secure, transparent, and efficient," said Nara Lokesh, IT Minister, Andhra Pradesh government.

ConsenSys founder Joseph Lubin is also the co-founder of Swiss-based decentralized cryptocurrency platform Ethereum. Lubin is currently on a three-city tour of India, including New Delhi and Mumbai apart from Hyderabad, organised by Blockchained India.

Lubin and his team are in India to introduce ConsenSys to the Indian ecosystem and are armed with a $50 million fund, hunting for investable projects.

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