State Bank of India to Beta Test Blockchain Smart Contracts Next Month

The State Bank of India (SBI) is planning a beta launch of smart contracts by next month, with blockchain-based know-your-customer (KYC) processes soon after.

According to Sudin Baraokar, head of innovation at SBI, the systems have been developed by Bankchain – a consortium of 27 banks that was launched in February to explore blockchain solutions for the banking sector.

Baraokar said that the beta launch of smart contracts in the bank’s processes will enable “simple things” such as non-disclosure agreements, Economic Times reports.

He added: […]

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