Not only banks, but the National Stock Exchange of India (NSE), HDFC Securities, a Mumbai-based brokerage took part within the project. Elemential, a blockchain consultants and solution company, provided the technology for the trial, according to CoinDesk. The first stage of the trial was completed in January 2017.
Elemential co-founder, told CoinDesk that the test involved a shared environment in which the stock exchange would onboard customer data, while different entities (banks and regulators) could access this information in real-time. Furthermore, those involved in the trial also tested the system for resiliency.
The next stage will see the use of real customer data and this will be done with the collaboration of CERSAI (Central Registry of Securitization Asset Reconstruction and Security Interest.
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