Zebpay raises USD 1 mln for Bitcoin technology development
Melisande Mual
06 Jan 2016 / 5 Min Read
A part of the funding will be used to develop the blockchain technology, which is used to record Bitcoin transactions in a secured manner. Incidentally, RBI has in the latest financial stability report, endorsed the potential of blockchain as a future mode of technology for financial transactions.
Bitcoin is a form of a virtual currency which operates through a complex chain of encryption independent of a central regulator.
In its 2015 financial stability report on disruptions in financial technology, RBI identified the importance of private blockchains, which have the potential of transforming the functioning of back offices of banks and increasing the speed of payments.
Melisande Mual
06 Jan 2016 / 5 Min Read
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