The Government of Maharashtra, India, is preparing a regulatory sandbox to test blockchain solutions for various applications.
The Maharashtra Information Technology Directorate will lead the development and the government has already allocated 100 million rupees (~1.4 million dollars) for adoption within the Blockchain from 2019-2020. 40 million (560,000 dollars) have been directly approved by the Implementation Committee.
Including Mumbai capital, Maharashtra is the second largest state in India and home to more than 114 million people. The State Government has previously signed a Memorandum of Understanding with the Council for Economic Development of Bahrain to develop a framework for joint promotion of fintech.
Various Indian companies and government institutions use blockhouse technology in their companies and administrative models. In June, news emerged that the Reserve Bank of India is developing a blockhouse platform for banking in its research and development facility.