Adarsh Credit is working towards a safer and secure financial system in India through its implementation of blockchain solutions in partnership with BankChain.
BankChain is a community of banks and financial institutions in India formed to explore, build and implement blockchain solutions. BankChain has 30 members globally. Primechain Technologies operates the BankChain community and delivers an enterprise blockchain solution that runs on Hyperledger Sawtooth and Intel Software Guard Extensions (Intel SGX).
“Blockchain is an emerging technology that has the potential to transform traditional business processes and the ways in which data is exchanged by consumers and financial institutions, Adarsh Credit’s partnership with BankChain is an example of technology innovation in India’s financial system to enhance security and providing a trusted computing environment. Adarsh Credit is working towards a safer, more secure financial system in India through its implementation of blockchain solutions in partnership with BankChain. We are thrilled to announce our partnership with BankChain community and working jointly with the mission of creating blockchains for a better world,” said Rahul Modi, MD, Adarsh Credit.
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“We are very excited to welcome Adarsh Credit to BankChain. The Adarsh team is already contributing excellent ideas for several BankChain projects including secure documents and vendor on-boarding,” said Shinam Arora, CEO, Primechain Technologies, reports ANI News.
Bankchain is working on following projects, Know Your Customer, Cross Border Remittance, Asset / Charge Registry, Peer to Peer Payments, Data Authentication & Storage, Syndication of Loans, Know Your Vendor, Know your Employee, Financial Instrument Lifecycle Management, Trade Finance.
Blockchain has been gaining momentum rapidly, as the technology can be used for everything from simple file sharing to complex global payment processing, and has the potential to transform the way companies operate. The Blockchain technology will help Adarsh Credit to increase the efficiency of financial transactions without having to compromise on data confidentiality and transaction security.