IIT-Kanpur to help city's Development Authority leverage blockchain tech

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 to onboard the institution as its "knowledge partner".

"With efforts by KDA vice president Arvind Singh, KDA is set to become the first development authority to use blockchain technology. The MoU will be signed on Teacher's Day (September 5)," said an official.

"A meeting between Singh and IIT Professor Dr Manindra Agrawal was held on Saturday and decisions regarding use of the technology by KDA were taken during the meeting," said the official. "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 S B Rai.