GMR Innovex Launches Blockchain CoE for Airports
Published: Date of publication – 16:38, Saturday – August 20
The Blockchain CoE will provide access to the necessary infrastructure and laboratories to start-ups, SMEs for the development and validation of solutions and services, from design to prototyping.
Hyderabad: Embracing innovation and building on a commitment to “creating tomorrow today”, the GMR Group on Saturday launched a Blockchain Center of Excellence (CoE) as part of the expansion of GMR Innovex. Principal Secretary (Industry and IT) Jayesh Ranjan was the chief guest.
GMR Innovex – Blockchain Center of Excellence will identify and incubate startups and catalyze innovative product development under the guidance of business leaders and domain experts in collaboration with blockchain technology partners. The Blockchain CoE will provide access to the necessary infrastructure and laboratories to start-ups, SMEs for the development and validation of solutions and services, from design to prototyping. It will also enable thought leadership, research and training programs for upskilling in blockchain, according to an official release here.
GMR Innovex signed a Memorandum of Understanding (MOU) with Idealabs, Polygon, Koinearth, India Blockchain Forum and Veroince to explore opportunities, identify blockchain technology related use cases for airports and related business.
Speaking on the occasion, SGK Kishore, ED-South and Chief Innovation Officer, GMR Airports said that the Blockchain CoE intended to collaborate with various players in Distributed Ledger Technology (DLT) and to build a range of applications for the distributed technology landscape.
“We believe that the industry is slowly emerging on the utility and value that DLT systems present, especially for a multi-stakeholder environment such as airports. We already have applications that we are earmarking to build on that will help create transparency, trust, data exchange and shared value and experience for our partners and customers, he said.
Prasanna Lohar, President, India Blockchain Forum, Arpit Sharma, VP, Global Enterprises-Polygon and Pankaj Diwan, Founder, Idealabs Future Tech Ventures also spoke, the press release said, adding that Diwan was the chief evangelist to lead the GMR Innovex Blockchain CoE.
The Blockchain CoE will run several innovation activities such as hackathons and startup accelerators to increase innovation and startup activity in the blockchain space.
According to Grand View Research, the global blockchain technology market size was valued at USD 5.92 billion in 2021 and was expected to grow at a compound annual growth rate (CAGR) of 85.9% from 2022 to 2030. The market growth can be attributed to increasing venture capital funding in blockchain technology companies , the release states.
