The awarded idea was presented during the final qualification round on October 17, 2019 in Vienna and aims to develop a distributed ledger technology (DLT) based digital cash platform enabling transactions with tokenised euro stored on blockchain.
In the Elevator Lab program, Billon will demonstrate its proven technology, showcasing the capability to mint, transfer, and redeem regulated currency on a distributed ledger. The Polish-British fintech will work with RBI to use the platform for interbank or intercompany transfers of funds and settlement with digitised euro.
Later, the scope of work can be expanded with mass payouts of funds from corporates to individuals, merchant accounts for ecommerce and e-money accounts for individual customers. In March 2020 Billon will present the complete solution to the bank.
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