India moves ahead to Blockchain!
Cabinet approves MoU on Collaborative Research on Distributed Ledger and Block Chain Technology in the context of Development of digital economy by Exim Bank under BRICS Interbank Cooperation Mechanism! The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the Memorandum of Understanding (MoU) on Collaborative Research on in the context of Development of digital economy by Export-Import Bank of India (Exim Bank) with the participating member banks, under the BRICS Interbank Cooperation Mechanism namely Banco Nacional de DesenvolvimentoEconomico e Social (BNDES, of Brazil), China Development Bank (CDB), State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank, of Russia) and Development Bank of Southern Africa (DBSA). Major Impact: Distributed Ledger/Block chain technology holds potential for solutions to various challenges being faced in the financial sector space of the BRICS nation