Bankchain
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BankChain was an Indian platform and initiative for banks to implement blockchain software that was launched in 2017. A majority of the major banks in India were members and the platform was designed for systems that shared data between its members.
History
[edit]BankChain was announced on 8 February 2017 by State Bank of India (SBI), India's largest bank.[1][2] BankChain members included the State Bank of India, ICICI Bank, DCB Bank, Kotak Mahindra Bank, Federal Bank, Deutsche Bank and UAE Exchange.[3] BankChain was formed in collaboration with Primechain Technologies, a Pune-based startup.[4]
Projects
[edit]As of 2017[update], the active projects included shared KYC / AML, syndication of loans / consortium lending, trade finance, asset registry & asset re-hypothecation, secure documents, cross border payments, peer-to-peer payments, and blockchain security controls.[3][5]
References
[edit]- ^ Srikanth RP (25 Jul 2018). "Bank-Chain: India's first Blockchain exploration consortium launched for banks". Express Computer. Retrieved 24 Oct 2018.
- ^ Sangita Mehta (16 Feb 2017). "SBI takes lead in blockchain, to use it to prevent fraud - The Economic Times". The Economic Times. Retrieved 24 Oct 2018.
- ^ a b "BankChain members and partners". Bankchain. Retrieved 24 Oct 2018.
- ^ Vardaan (2017-02-14). "Introducing Bank-Chain, India's First Blockchain Exploration Consortium For Banks". IndianWeb2. Archived from the original on 2017-04-04. Retrieved 24 Oct 2018.
- ^ Ani (23 Jan 2018). "Adarsh Credit partners with BankChain to Deploy blockchain solutions". Business Standard. Retrieved 25 October 2018.