[2016-09-27] ET: R3, 8 banks successfully test blockchain platform for bonds

[polynesia]

R3, 8 banks successfully test Intel blockchain platform for bond trading

http://cio.economictimes.indiatimes.com/news/corporate-news/r3-8-banks-successfully-test-intel-blockchain-platform-for-bond-trading/54542760

U.S.-based financial innovation start-up R3 announced on Monday that it and eight banks, including HSBC and State Street, have successfully tested a blockchain platform powered by Intel Corp technology for bond transactions.

The platform featured advanced smart contract technology that enabled trading, matching, and settlement of U.S. Treasury bonds, as well as automated coupon payments and redemption, R3 said in a statement.

Blockchain technology powers the digital currency bitcoin, enabling data sharing across a network of individual computers. It has gained worldwide popularity due to its perceived usefulness in recording and keeping track of assets across practically all industries.

[philiveyjr]

I doubt we would be seeing anything of such sorts in India, atleast not for the next 10 years unless an international bank brings it here.