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Author Topic: [2017-05-30] ToI: First blockchain project ‘Clear-Chain’ is underway  (Read 334 times)
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May 30, 2017, 12:36:06 AM

First blockchain project ‘Clear-Chain’ is underway

BankChain, the consortium of banking majors including SBI, ICICI Bank and DCB Bank has completed work on its first blockchain project. A blockchain is a decentralised and distributed digital ledger that records transactions across many computers in such a way that the registered transactions cannot be altered retroactively.

Titled Clear-Chain (c2), it is a permissioned blockchain for integrated and shared KYC, AML and CFT (Know Your Customer, Anti Money Laundering and Countering the Financing of Terrorism). While Clear-Chain is being tested across member banks, 4 others are expected to be completed in the next 4 months.
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