RBI to build blockchain-based banking platform
The Reserve Bank of India (RBI) is to build a blockchain-empowered banking platform for the use of bank officials only, Jane Connolly writes.
Forex Crunch reports that the RBI will launch the platform sometime in 2020 and that it will be designed to serve private as well as public sector Indian banks.
It will also support the development of banking related applications.
RBI’s decision to leverage blockchain technology has come as a surprise to the industry, bearing in mind the Indian government’s draft proposal to ban cryptocurrency and regulate digital currencies.