Updated By: LatestGKGS Desk
Cabinet approved MoU on Collaborative Research on Distributed Ledger & Block Chain
Union Cabinet approved MoU on Collaborative Research on Distributed Ledger & Block Chain Technology: Details, Aim, Highlights
The Union Cabinet chaired by Prime Minister Narendra Modi on 12th September 2018, has approved MoU on Collaborative Research on Distributed Ledger and Blockchain Technology in the context of the development of digital economy by Export-Import Bank of India (Exim Bank)
Other participating member banks, under the BRICS Interbank Cooperation Mechanism, are BNDES of Brazil, China Development Bank (CDB), State Corporation Bank for Development and Foreign Economic Affairs of Russia and Development Bank of Southern Africa (DBSA).
The Distributed Ledger or the Blockchain technology holds potential for solutions to various challenges being faced in the financial sector space of the BRICS nations.
The MoU aimed at enhancing understanding of Distributed Ledger/Block Chain technology, through the joint research efforts to identify areas within respective business operations.
