VISAKHAPATNAM: Six of the 16 top IT companies that participated in the Blockchain Business Conference have committed to opening their branches in Visakhapatnam.
Said a senior government official, “The government of Andhra Pradesh had received a lot of proposals from SMEs during the Fintech Vizag Valley event. 60 per cent of the participating companies had come for the first time to Vizag. Chennai, Bangalore and Mumbai based start-up SME companies are willing to start operations in Vizag. Government is in talks with 19 companies; out of which 6 companies have already committed to opening offices in Vizag. The State Government is also in talks with regulatory bodies like RBI and SEBI with regard to policies. National Stock Exchange (NSE) is planning to open a data centre in Andhra Pradesh. We are excited that the companies see an opportunity in Vizag and are willing to invest.”
A Stockholm based company is partnering with the State Government to curb land fraud. The current system, where land and property records are centralised in government databases, is inherently vulnerable to improper or unauthorised manipulation. This can make it difficult to reliably and unambiguously establish who actually owns a given property in the event that records are incongruent, absent, or for some reason, suspicious.
ChromaWay has partnered with the government of Andhra Pradesh to build a Blockchain-powered solution, bringing to life a secure and smart system for land registration.
AP gets Rubique onboard to leverage its tech interventions for Fintech ecosystem. Vizag Rubique, India’s leading fintech company signed an MoU with the state government to be a part of its Fintech Valley Initiative and is foraying into the geography with its first branch in the city of Vizag.
Rubique has been transforming the traditional lending process through technological interventions in an unparalleled manner, helping a large number of customers to fulfill their financial requirements. It helps in dealing with loan applications that are processed faster through PAN verification and Aadhaar.
Commenting on the partnership, Manav Jeet, MD & CEO, Rubique said, “Andhra Pradesh is becoming one of the pioneers of digital revolution in India and we are quite excited to be a part of this upcoming ‘Fintech Valley’ of the country. Through our expansion in the state, we are hoping to witness a fivefold increase in the number of aspiring entrepreneurs and individuals who would be willing to take the digital route of raising finance to fulfill their business goals.”