Government of Telangana’s vision is to become a leader in Emerging Technologies. To realize this vision, ITE&C Department of Government of Telangana has an Emerging Technologies Wing which enables an ecosystem for emerging technologies, and most importantly, leverages these technologies to develop innovative solutions for government departments.
Under the Blockchain District initiative,Telangana’s Blockchain project for administering Chit Funds in the state, T-Chits, has been awarded Gold in “Excellence in Adopting Emerging Technologies” for the 23rd National Conference on E-Governance2019-20.
Chit funds are key instruments of financial inclusion in India. While Chit funds help people save money for their future needs, regulatory failures may cause millions of people to lose their life-time savings.
“The Blockchain-based platform will capture transactions, verify the data, enable smart and secure transactions to allow automated and trusted financial transactions between all parties” said Ms. Rama Devi Lanka, Director Emerging Technologies & OSD, ITE&C Department, Government of Telangana.
