Author: Jagdish Kumar, India
To use blockchain development for human development breakthrough, Singapore based company CREDIT wants to help Andhra Pradesh government.
This was announced at the event held in Visakhapatnam, Andhra Pradesh also known as the blockchain capital of India.
While presenting on how blockchain can help, the state, CREDITS CEO and Founder Igor Chugunov said that unique blockchain-based solution that can prove to be a breakthrough improvement in the human capital management system to the Government of Andhra Pradesh.
The company team took part in StartAP Awards, an annual ceremony that honours the most successful entrepreneurs in India.
The state was represented by Ganta Srinivasa Rao, Minister for Human Resource Development and J A Chowdary, Advisor IT and Special Chief Secretary to Chief Minister.
The company said that if their technology is used, the State Data Register with client ID will become a reliable storage system for the educational, research, and labour-related documents.
The system would be accessible to recruitment agencies, social services and related state bodies.
The systematic approach, common document format, safe information storage, guaranteed document authenticity and easy access to them given only to authorized personnel can play a key role in labour market development of an Indian state with a population of 53 million people, the company CEO wrote on Medium.com.
As a result of the meeting it was suggested to set up a working group including CREDITS experts along with Indian universities.
The CEO wrote that CREDITS team visited Gandhi Institute of Technology and Management (GITAM), one of the leading research centres of Andhra Pradesh, chosen as a potential testing ground for the pilot project.
Having made a tour of the university, CREDITS in depth discussed the opportunity to develop a blockchain training program and sponsor a hackathon among local students.
CREDITS is a public blockchain platform with an open source code, capable of performing up to 1 million transactions per second. It offers the processing speed of 0.01 of a second while the commission rate is as low as $0.001.
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