India’s largest banks are ready to launch first blockchain-based solution

    A blockchain-based solution designed to help Indian banks and non-banking financial companies do their know your customer diligence of corporate borrowers, evaluate corporate lending risk, and manage vendors is ready to be deployed by the year-end. The solution has been developed by Bankchain, a 30-member consortium led by the State Bank of India or SBI, the country’s largest lender, and includes banks, NBFCs and the National Payments Corporation of India (NPCI), an organisation set up by Indian banks to support retail payments. “We are now testing the beta…

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