[2017-01-25] ET: Big banks plan interbank blockchain platform

[polynesia]

Big banks plan interbank blockchain platform

http://economictimes.indiatimes.com/industry/banking/finance/banking/big-banks-plan-interbank-blockchain-platform/articleshow/56770736.cms

India’s largest banks are building a consortium to test an interbank blockchain platform, putting the country at the cutting edge of adoption of the technology that forms the backbone of cryptocurrency Bitcoin.

The move comes after the central bank’s technology arm the Institute for Development and Research in Banking Technology (IDRBT) released a white paper earlier this month saying its pilot, for a blockchain platform to settle trade finance transactions, had been successful.

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[btcdevil]

It is really very good move as now we Indians will be able to obtain the bitcoin debit card as all bitcoin debit card issuers are not giving to Indians as they are not getting permission from the banking institutions. This move will be more good for the bitcoin users in india

[polynesia]

It is really very good move as now we Indians will be able to obtain the bitcoin debit card as all bitcoin debit card issuers are not giving to Indians as they are not getting permission from the banking institutions. This move will be more good for the bitcoin users in india

Nope, the two have no connection. Banks are testing blockchain platforms, which will cut costs for them. Bitcoin still remains an untouchable for banks in India. So don't get your hopes high.

[susila_bai]

It is really very good move as now we Indians will be able to obtain the bitcoin debit card as all bitcoin debit card issuers are not giving to Indians as they are not getting permission from the banking institutions. This move will be more good for the bitcoin users in india

Nope, the two have no connection. Banks are testing blockchain platforms, which will cut costs for them. Bitcoin still remains an untouchable for banks in India. So don't get your hopes high.

Thank you very much for the clarification because i thought that this should be some good reason for the bitcoin debit card issuers as they are not Issuing Bitcoin Debit Card for the Indian Bitcoin users.