Blockchain technology which grabbed the attention of the top players in the tech and finance industry across the globe a few years ago is now on the radar of Indian banks. One report says that it’s expected to create the value of a whopping 5 billion USD in India in the next 5 years.
Some of the largest banks in India including HDFC Bank, Kotak Mahindra Bank, Axis Bank, ICICI Bank, etc. have already rolled out a Blockchain-linked loan system, a first for the country. Similarly, a Blockchain-based remittance solution for the NRIs was unveiled by Federal Bank recently.
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