RBI intensifies R&D work around blockchain tech
Moreover, not only IDRBT- the Reserve Bank of India’s research arm - but also, the central bank and fintech players could work together for commercial success of new technology platforms. According to IDRBT’s representatives, the platform will be suitable for different banking-related applications.
In January 2017, the IDRBT attempted a Proof-of-Concept (PoC) on the applicability of blockchain technology to a trade finance application. It also organized a workshop on blockchain technology aiming to prepare a white paper on implementation of the technology in the areas of banking and finance in India.
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