Indian Bank Wants Joint Effort To Share Data On Blockchain
The State Bank of India, hereinafter SBI, is actively seeking to promote information sharing among banks in the country using Blockchain technology. Dubbed ‘Bankchain,’ the initiative aims to target bad loans and fraud which “make up one-fifth of banks’ loan book,” Economic Times India reports. “Being the largest bank, SBI has taken the lead in initiating Blockchain, and we are in talks with banks and other companies for this,” M Mahapatra, SBI’s deputy managing director, told the publication. He added that the first step was the creation of a forum for digitizing loan and trade finance....
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