IT Minister KTR Launches India's first-ever International Blockchain

Hyderabad, Aug 04: The city is all set to host a three-day International Blockchain Congress (IBC) beginning August 3.

With organizers touting it the first event of its kind in the country on the emerging technology, the IBC, they said, will witness the participation of over 3,000 persons, including blockchain experts and innovators.



Blockchain is a growing list of records, which are referred to as blocks. They are connected through cryptography.

Minister KTR inaugurated international Blockchain Congress in Hyderabad, leading to a revolutionary change in creating and making records of all kinds, with total transparency.

It is said to provide more privacy and is very secure. The best example of blockchain technology can be seen in cryptocurrencies.

While private blockchains are useful for the business purpose, Hyderabad new blockchain technology will be used widely in all public functions.

Several MoUs are expected to be signed at the IBC, including the adoption of blockchain by the State departments, the details of which would be given at the event.

While the first two days of the IBC will be organized at HICC in the city, the third day will be hosted in Goa.