Reserve Bank of India Developing Blockchain Banking Platform

Reserve Bank of India Developing Blockchain Banking Platform

While remaining reluctant to cryptocurrency adoption, as mentioned by Cointelegraph, banks in South Korea are investigating blockchain tech. The South Korean government doesn't permit ICOs in the country.

Back in Junethe Economic Times reported that media giant Facebook is not attempting to register its forthcoming currency Libra possibly because of the banks ban serving cryptocurrency-related enterprise. "Korean banks are leaping into the blockchain area. When this proves there is enormous interest in the technologies in finance, all the efforts are on the tech side. They are ignoring the cryptocurrency part" Crypto influence Hyun-sik'Soso' Choi has commented about the state of crypto and blockchain in South Korea, saying: While RBI seems to be moving into the blockchain business, it has historically not been eager on cryptocurrencies. Back in April, the RBI stated that cryptocurrency projects, including first coin supplies (ICOs) and cryptocurrency exchanges, would not be permitted in its own regulatory sandbox undertaking, unlike blockchain tech. 

Published at Fri, 28 Jun 2019 18:49:00 +0000 The blockchain system will host lots of blockchain programs, and is slated to start next year. This model platform is allegedly being designed to serve banks; based on the director of this Institute for Development and Research in Banking Technology, RBI's R&D division, the platform is"to get blockchain software for the government in banking"