India's biggest banks are building a blockchain solution that will provide a Letter of Credit in four hours

BI Crypto news stream
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#1

In a first-of-its-kind move, 15 Indian banks have joined forces to build a blockchain solution to solve a central problem in traditional banking — the processing of Letters of Credit (LCs), GST invoices, and e-way bills.

Cryptocurrencies, which are based on this technology, have grown exponentially in the last year. However, conventional financial institutions are yet to take advantage of it. While the authorities figure out a way to regulate cryptocurrencies in India, banks are taking a step forward and bridging the gap from a technology point of view.

https://www.businessinsider.in/cryptocurrency/news/sbi-hdfc-icici-and-12-others-banks-are-joining-forces-to-use-blockchain-to-power-letters-of-credit-a-move-that-could-be-a-boon-for-msmes/articleshow/83570874.cms

#2

Good information, it’s a really good move for a traditional banks.

#3

The police said it was the largest cryptocurrency seizure in the country’s history.3

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The police said it was the largest cryptocurrency seizure in the country’s history.4

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The police said it was the largest cryptocurrency seizure in the country’s history.5