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Briefing
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- Successful Blockchain Trials – Reserve Bank of India's Institute for Development and Research in Banking Technology successfully tested blockchain solution which records financial transactions among regulators, banks, financial institutions and clearing houses
- First End-to-End Blockchain Test – Was first ever end-to-end test of blockchain using existing bank protocols
- Benefits – According to published paper, platform can help modernize, streamline and simplify financial processes as well as digitize India’s currency
- MonetaGo Partnership – Trial was run in partnership with New York-based blockchain solutions startup MonetaGo
- Requirements – MonetaGO Chief Executive Officer Jesse Chenard cautions scale is still required to rollout solution successfully and it will take time for standards to evolve
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Accelerator
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Sector
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Financial Services, Information Technology
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Organization
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Reserve Bank of India
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Source
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Original Publication Date
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January 16, 2017
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