Bitcoin Forum

As the subject line mentioned, the largest private sector bank in India, ICICI Bank embraces the power of Blockchain technology. As a trial run, they have initiated this technology transformation with one of their counterparts Emirates NBD in Middle East. While going through my personal Linkedin profile today, I found the below update,

https://www.linkedin.com/feed/update/urn:li:activity:6397396738059132928


The change is imminent! The sooner they adopt it, the better!

Hmmm, I've found this:

https://www.vccircle.com/what-blockchain-and-why-icici-bank-s-use-it-big-deal/


The date of the article is: 13 October, 2016

Anyhow, loved that picture with "decentralization", yeah right....
Decentralization where five banks control the chain.

The news that you have shared is at least 2 years old, but I would like to add what is happening right now. Right now, more than 250 corporates have signed up on the Bank’s blockchain application to try out a more time and cost efficient and secure way of undertaking domestic & international trade transactions. Meanwhile RBI is trying to regulate cryptos, which will revolutionized India's economy for good.

Not only ICICI but other banks of India should try to embrace the blockchain technology sooner or later because Reserve Bank of India is currently thinking of regulating cryptocurrency after the recent hearing of Supreme Courty. They have even come up with draft regarding the regulations so that government can get a hold of all the transactions.

India is really a great contributor of cryptocurrency, they are really a great supporter of it, that is why I salute them, how I wish my country would embrace this kind of change as well that instead of saying that it is scam then they will see this as a great opportunity for all of us especially if we will all adopt it in our daily life.

HDFC Bank, India’s largest private bank, has embraced all of these trends and has emerged as a customer-centric organization with personalized offers and innovative products and services to the market. https://gomedici.com/how-indias-leading-private-bank-leveraging-power-of-fintech/
Blockchain technology began gaining prominence in the country following the emergence of bitcoin. https://www.forbes.com/sites/sindhujabalaji/2017/12/28/indias-blockchain-revolution-goes-beyond-banks/#1b7390ea4123
ICICI Bank carried out India’s first international trade transaction and overseas remittances using blockchain. Since then YES Bank, Kotak Mahindra Bank and Axis Bank have also started harnessing the technological concepts underlying Bitcoin. blockchain. http://economyria.com/blockchain-india/ https://www.forbes.com/sites/suparnadutt/2017/09/01/blockchain-is-slowly-changing-digital-banking-in-india-thanks-to-these-startups/#a155e574a172

Yes, The change is imminent! India is changing very fast day by day. There is no backpack.

it is very amazing, when the government of India bans crypto, ICICI bank creates new innovations? does ICICI Bank try to fight the government or ICICI banks get legality from the government?

but, if the Indian government changes their decision, this is a good idea, some crypto users can use ICICI bank as for transactions.

please provide me more information about how the response from the indian society.

I hope it’s will effect to create a positive  view about cryptocurrency to india’s people. They will more interested about cryptocurrency by this attempts.

But, the negative is, they were banning bitcoin for whatsoever and I think they cannot ban it because they also using the blockchain.

I think that’s pretty good for india. And it can help to bright the future of bitcoin of cryptocurrency as well as. I wish india’s government also rely a positive resulation about bitcoin

In the tweet, ICICI bank shows they are interested in Blockchain tech which is a no news to me as they talked it about many times ago. Bank and blockchain two theories don't go one with another, in my assumption. They are little a bit opposite to each other. One goes with centralization and other with decentralization.

I think its not a matter of concern. Private bank try to stop it because they have not cope up with digital currency. They thought their business will fall if crypto start operation. I think both platform are different it will not affect the other sector. Hopefully crypto will accept by Indian government.

they should but not all banks want to. some are even against.  ut if the law requires it they will have no choice

Yes this is true but I think its ot a matter of concern. Block chain technology already accepted all over the world. Nothing can stop its growth of this technology. Some company try to stop it because they did not have enough knowledge about it.

In indian private bank ICICI is strated blockchain technology. I think it is very good sign for Blockchain technology. Blockchain are more secure and reliable technology.

It is a great new for asian, as I am Sri Lankan, I am so happy with that news, I believe that  Sri Lanka government aslo will be able to use crypto currency son.

With this current developments you can see that blockchain and bitcoin has come to stay. Even with all the attacks and negative news blockchain and bitcoin is still recording millstone achievements. So it is either you join now or regret tomorrow.

I believe that this is not a decentralized system. If the processing server will be located on the territory of certain banks. I don't think it's right or will have a future. I believe that there should be a chain among 5000 banks that are competitors to each other in principle, but use the same technology in different parts of the world.

I hope the Indian government see bitcoin in a good light after all this, even just a little bit. Lots of potential investors in there just making sure  if they are not doing something illegal. Better yet, other banks should follow in its foot steps.

I think i have heard this news long before. But it will be a great attempt by ICICI bank and they should be appreciated. And i hope it will make blockchain more popular in INDIA.

many people in India have started buying and selling crypto currencies, a digital currency where encryption techniques are used to regulate the generation of units and verify transfer of funds. These operate independently of a central bank. India has over one million Bitcoin users; the country accounts for almost 10 per cent trading in volume terms. According to a recent report by PHDCCI, combined trading volumes in India could be in the range of Rs 200-250 crore per month.

Nice good news to those Indians who are doing cryptocurrency. I think this will be the start of introducing the crypto to their country. I just hope that the their government will also embrace and support it.

I feel good when i see this kind of good news. It is a positive sign that the people all over the world have started to accept the blockchain and crypto coins.

This is a good news for Crypto, hopefully they will maximize the use of blockchain to their plan also hoping that it will be a successful one so that they will continue to use blockchain for good.

it looks like you always read news about blockchain in india.
I hope so, hopefully this will be realized soon

ICICI Bank, India’s largest private bank, will focus on Blockchain technology,ICICI Bank will specifically focus on Blockchain systems to create a more robust experience for its customers.

I have always had the belief that there is an silver lining on the horizon for cryptocurrency and blockchain. This news is such a sweet one, especially for my Indian friends. This should keep any doubter busy again or all those asking about the future of bitcoin and blockchain.

Good news , it will soar the price of bitcoin and open doors for institutional investors and traders

The news that you have shared is at least 2 years old, but I would like to add what is happening right now. Right now, more than 250 corporates have signed up on the Bank’s blockchain application to try out a more time and cost efficient and secure way of undertaking domestic & international trade transactions. Meanwhile RBI is trying to regulate cryptos, which will revolutionized India's economy for good.

Really feeling good to know that indian private sector banks taking interest in the blockchain and they are planning right from past two years so that when the government regualte the cryptocurrency trading in india they can take the advantage of it by starting the cryptotrading services on the right time with the sound knowledge of blockchain and their technology.I think RBI will soon regulate the cryptocurrency in India.

Things may not as bad as previously imagined.A bank will to give the blockchain a trial is a good news, it may help douse the fear about cryptos. Indians love cryptos and some day they will be at liberty to trade freely.

I think this is a good news for all the cryto users. I didn't know about it neither I have read it on news paper. If all bank will starts using it then I think cryptos will be regulated soon. I have read somewhere that government made a blockchain research center in south Indian state if all this go well then surely it will help the government and the people of the country as well.

Not only ICICI but other banks of India should try to embrace the blockchain technology sooner or later because Reserve Bank of India is currently thinking of regulating cryptocurrency after the recent hearing of Supreme Courty. They have even come up with draft regarding the regulations so that government can get a hold of all the transactions.

Good news thanks for sharing this for the new hope for uus for bitcoin help to increase their slow motion pumping in the marketplace. Suppoting if one big private bank for bitcoin powers it's means bitcoin are have future as currency and had big chance to bedome legal in india.

ICICI has adopted to blockchain technology two years back and now they have added 250 banks on their network for a better experience. I think all the big organizations in the world are realizing blockchain's importance which is why they are trying to get the first mover advantage to get a edge from their competitors.

the main feature of any banking solution is trust. therefore, there is no place of anonymity. or anonymous exchange is possible between large banks, where the trust is encrypted verification

Yes and it is also a very good news. This can pave way for other banks to adopt blockchain technology and serve consumers effectively.

This news doesn't matter at all because Indian government is against Bitcoin and doesn't allow fiat to be exchanged for fiat-crypto exchanges, much like China. Also, some people have noticed that the article is 2 years old. Useless FUD.

I think that this is good news because blockchain is a good smart technology and both banks and businesses can benefit from it much. In my opinion, it is better to use the blockchain knowing the system from inside

Did you know that banks are one if not the first one to really benefited from Blockchain Technology? But the ironic part is that they are hostile against bitcoin and crypto in general, but they appreciate the same technology behind crypto. Regarding India, seems to be that they are still divided and we might see a sudden U-turn if the Supreme Court of India suddenly reverse their decision upholding RBI's ban.

India’s largest private sector bank has a rich legacy of leveraging the latest technology to bring in new paradigms in banking. We can expect collaboration with peer banks and other partners to create an ecosystem in the banking sector they can contribute even greater adoption of this initiative.

India is a huge market, I want it to happen sooner! It will be a push for development!

If the private banks can embrace the blockchain , the government may likely allow bitcoins and crypto-currency in no distant future. could be they are developing suitable infrastructure for it 

India's largest private bank will focus on Blockchain technology. ICICI Bank will focus specifically on Blockchain systems to create a stronger customer experience. This news is so sweet, especially to my Indian friends.

ICICI Bank will focus specifically on Blockchain systems to create a stronger experience for its customers. This news is so sweet, especially to my Indian friends. Good news, it will raise bitcoin prices and open to institutional investors and traders

This is interesting news. Although I did not doubt India, it is a powerful country that has the desire to change and conform to the modern world. The use of blockchain technology will advance India far ahead in developing

Kotak Mahindra Bank, India's leading private bank based in Mumbai, has recently announced a partnership with RippleNet, the blockbuster network of Ripple, to improve its international remittance service immediately.
According to the announcement, Kotak Mahindra will use xCurrent technology of ripple to speed up international transactions. Previously, a transaction in a manner usually takes a few days, but the solution of the ripple allows the time to money down to a few minutes. Bank customers will have the opportunity to track the process of making payments across borders at a much lower cost.

Blockchain is the future and this technology need to be adopted and i think soon we will see them integrated in many prjoects and companies, banks etc

Kotak Mahindra Bank, India's leading private bank based in Mumbai is using the country's strong market presence to drive the use of blockchain technology, create a larger pool of wealth for their economy and the future of their economy and a sound customers experience. It is a very powerful country that has the zeal to change and conform to the modern world and its doings. The use of blockchain technology will advance India far ahead in developing their market presence and it's friendliness in economy.

In my opinion, even if they block. then soon may come with cooperation. Many understand that Bitcoin will still be used by people and know better all operations and processes. Therefore, I think this is a temporary phenomenon.

Blockchain has shown itself well in the cryptocurrency market, which is also a kind of financial market. In this regard, it is quite logical if banks also begin to introduce this technology into their activities. It seems to me that this will have a positive effect on the work of banking structures.

It was only a matter of time until banks start to use the blockchain for themselves. This message does not surprise me. In the future, more banks will certainly start to use a blockchain.

That is the way to go and the bank is proactive and they will reap the fruit of their forward thinking by incorporating blockchain  technology in their operations. This is the first Indian Bank to embrace blockchain technology and very soon more of the other banks in India and surrounding countries will also become blockchain compliance. This will really improve their business as the will be more gain when all loop holes are plugged and the system becomes difficult to manipulate because of blockchain and introduce fraud.