{"id":1070,"date":"2016-07-23T10:30:00","date_gmt":"2016-07-23T10:30:00","guid":{"rendered":"https:\/\/blog.holytransaction.com\/2016\/07\/reserve-bank-of-india-to-study-blockchain-applications.html"},"modified":"2021-09-01T03:06:19","modified_gmt":"2021-09-01T01:06:19","slug":"reserve-bank-of-india-to-study-blockchain-applications","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/07\/reserve-bank-of-india-to-study-blockchain-applications.html","title":{"rendered":"Reserve Bank of India to study blockchain applications"},"content":{"rendered":"<div style=\"clear: both; text-align: center;\"><a style=\"margin-left: 1em; margin-right: 1em;\" href=\"https:\/\/4.bp.blogspot.com\/-t30k39hIvL0\/V5NGzHKpa0I\/AAAAAAAAApk\/FWf-PK9NU9ArXEqXgXKS_LSop3-fb8wFACLcB\/s1600\/Untitled%2Bdesign.png\"><img loading=\"lazy\" decoding=\"async\" title=\"bankofindiatostudyblockchain\" src=\"https:\/\/4.bp.blogspot.com\/-t30k39hIvL0\/V5NGzHKpa0I\/AAAAAAAAApk\/FWf-PK9NU9ArXEqXgXKS_LSop3-fb8wFACLcB\/s320\/Untitled%2Bdesign.png\" alt=\"bankk_of_india_to_study_blockchain\" width=\"320\" height=\"240\" border=\"0\" \/><\/a><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><b>Reserve Bank of India <\/b>(RBI) proposed to local banks<b> to study blockchain applications<\/b>.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In fact, a bank deputy governor encouraged other Indian banks to collaborate within a research group previously created by the central bank on blockchain projects.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">During a recent event held by the <b><a href=\"http:\/\/www.idrbt.ac.in\/\" target=\"_blank\" rel=\"noopener noreferrer\">Institute for Development and Research in Banking Technology<\/a><\/b>\u00a0(IDRBT) on 19th July, <b>Rama Gandhi<\/b> explained how banks should develop applications for the blockchain and cryptocurrencies.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">These were his words:<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><i>&#8220;Cloud-based computing, blockchain processing technologies and virtualization of IT systems are a few examples which hold potential for being used in a big way &#8230; Banks and IDRBT can work together to study these, test them out and adapt for best use.&#8221;<\/i><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<h3 style=\"text-align: justify;\">Bank of India wants its own digital currency<\/h3>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Reserve Bank of India has been investigating distributed ledger applications of the technology since 2014, according to reports.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Back then Central bank governor <b>Raghuram Rajan<\/b> said that the bank could release its own cryptocurrency but no more details are available about this project.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Reserve Bank of India (RBI) proposed to local banks to study blockchain applications. In fact, a bank deputy governor encouraged other Indian banks to collaborate within a research group previously created by the central bank on blockchain projects. During a recent event held by the Institute for Development and Research in Banking Technology\u00a0(IDRBT) on 19th [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76,101,229,522,534,544,545],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reserve Bank of India to study blockchain applications -<\/title>\n<meta name=\"description\" content=\"A bank deputy governor encouraged other Indian banks to collaborate within a blockchain research group previously created by the central bank\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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