AP Govt signs MoU with Covalent Fund to set up a Blockchain university
Written by : SMTV24x7 | Sat, Jan 20, 2018, 11:55 AM
Vijayawada, Jan 20: The Government of Andhra Pradesh has signed a memorandum of understanding (MOU) with the Ram Yalamanchili family office-management Covalent Fund to set up a Blockchain university.
The pact will also focus on the creation of manpower, access to capital and creation of an India-focused Velugu Blockchain stack under Fintech Valley Vizag, the flagship initiative of the state.
Covalent Fund, a family office fund managed by Ram Yalamanchili, will also carve out a venture fund to invest up to $10 million as an initial pilot programme.
Information Technology Minister Nara Lokesh said the state envisages to become Blockchain enabled via its digital assets by 2019. "We believe that an India Blockchain stack will revolutionize the way the economy would function in the near future."