One of Asian central banks starts developing blockchain platform

The development is forecasted to be finished in 6 or 9 months

blockchain

One of Asian central banks starts developing blockchain platform. Source: shutterstock.com

The Monetary Board of the Central Bank of Sri Lanka is set to develop a blockchain platform to accelerate the processing of bank users’ IDs.

Out of 36 applicants for the project, 3 software development companies will design a proof-of-concept KYC platform.

The platform will allow both the government and the banking sector to share and update customers’ data using blockchain.

What is more, it is expected to attract new clients eliminating the delays caused by manual processing.

We’ve reported that Coinbase has announced the launch Rosetta, an open-source toolkit that makes integrating with blockchains simpler, faster, and more reliable.

SEE ALSO:

facebook