1. Banks see huge Blockchain tech potential

Banks see huge Blockchain tech potential

Banks see huge potential for deployment of the blockchain technology in funds transfer infra, digital identity management and payments infra, says a report by PwC, reports fe Bureau in Mumbai.

By: | Published: April 25, 2017 6:06 AM
The report is based on a survey of 45 Indian financial services and fintech executives, mapped against a global survey of 1,308 participants from 71 countries, and includes insights, data from PwC’s DeNovo platform. (Reuters)

Banks see huge potential for deployment of the blockchain technology in funds transfer infra, digital identity management and payments infra, says a report by PwC, reports fe Bureau in Mumbai. The report is based on a survey of 45 Indian financial services and fintech executives, mapped against a global survey of 1,308 participants from 71 countries, and includes insights, data from PwC’s DeNovo platform.

It says with 32 new blockchain firms founded in India in 2016, and a large private bank executing the country’s first banking transaction on blockchain, the technology is making its way into the mainstream of Indian financial services.

 

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