The Kanpur Development Authority (KDA) is all set to sign a Memorandum of Understanding (MoU) with IIT-Kanpur on Monday to explore opportunities in blockchain technology and onboard the institution as a “knowledge partner”.
“With the efforts of KDA vice president Arvind Singh, KDA is set to become the first development authority to use blockchain technology. The MoU will be signed on Teachers’ Day (September 5),” an official said.
“A meeting between Singh and IIT Professor Dr Manindra Agrawal was held on Saturday and a decision on the use of technology by KDA was taken during the meeting,” the official said. “Blockchain technology is intended to be used for the convenience of the general public and to protect KDA properties from fraud and for easy/transparent use of each property,” said KDA Public Relations Officer SB Rai.