India's largest private Bank embraces Blockchain

[MalcolmBee]

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.

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[ElaineGanda]

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.

[hermanjones18]

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.

[Meraki]

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.

[kasurnya]

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.

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

[Kunal666456]

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.

[MainIbem]

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.

[Supremacy1]

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

[redrose8226]

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.

[Nisharawal]

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.

[earnestoshodi]

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.

[wizmo]

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.

[btchunter786]

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.

[kotajikikox]

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!

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.

[HeartDesire888]

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.

[Wall_Streeet]

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

[ICOKite]

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

[pixie85]

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.

[cxmyifan16]

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

[btc_angela]

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.