Blockchain-based finance solutions by Infosys
Cross-border trade and banking have been in place since the 70s. But even in today’s world, trade finance can be costly and time-consuming given its high volume. Is blockchain really a cure-all here? Time will tell. But, technology market research reports say that this is definitely one of the most interesting symbiosis to keep an eye on in 2018. Infosys Finacle (India Trade Connect) that is a part of Infosys’ subsidiary Edge Verve systems has announced a pilot blockchain-based solution for India’s financial operations. The digital solution has gained quick popularity and there are 14 banks that have now associated themselves with Infosys to reap the benefits of it. The 14 banks hold responsibility for a majority of the country’s transactions and if or not they’re all within the purview of blockchain is yet to be tested. How is blockchain predicted to help? Blockchain, in simple terms, is a digital ledger with great possibilities. It is decentralized and can be us...