Hyderabad: IT services firm Tech Mahindra on Friday announced that the company acquired a minority stake in an Ethereum-like protocol at the first edition of the International Blockchain Congress.
In a statement, Tech Mahindra CEO & MD C.P. Gurnani said, “Eleven01 is an ambitious initiative which will put India right at the center of the global Blockchain landscape. It will power the Indian blockchain ecosystem and create exponential value for all stakeholders, we are proud to play a pivotal role in this pursuit of excellence. Clearly, it is time for India to leapfrog into the leader’s orbit in next generation technologies like Blockchain.”
Speaking to the media Mr Gurnani said that the company expects to have a revenue of $100 million from blochain in the current fiscal.
The company also signed an MoU with the IT, electronics and communications department of the Telangana government to help develop a blockchain district so as to boost the ecosystem in Hyderabad.
