In order to empower the unbanked, Telangana, India, has collaborated with Cognito Technologies, a UK-based startup, to offer credit ratings to the population. Speaking about the initiative, the co-founder of Cognito technologies, Murali Muhan Duvvuru said that: "In phase-1, the entire process of loan disbursement and repayments will be recorded on Blockchain ledgers using smart contracts. Following which, individual credit rating will be derived from the transactions recorded and stored on Blockchain and the individuals will then be made aware of their credit score." Cognito Technologies To Set Up India Office Following the deal, Cognito Technologies is ready to set up an office in Hyderabad, India this January and employ 15 staff members. It will work with Sthree Nidhi Credit Cooperative Federation Ltd, a government branch that gives affordable credit to members of self-help groups in the country. According to Duvvuru, as it stands Sthree Nidhi already has a digital system working, so