THELOGICALINDIAN - Indiantech bunch Wipro has developed a blockchainbased band-aid for banks inThailand to achieve ante This comes as Indian government and cyberbanking authorities attending to achieve ablanket ban on all nonstateissued cryptocurrencies aback home
Thai Banking System Embraces Blockchain Technology
The adjustment band-aid is a allotment of the aboriginal appearance of Project Inthanon, which launched in August 2018. The initiative, led by Bank of Thailand, aims to ultimately implement a civic Central Bank Digital Currency (CBDC). Appearance one focused on rolling out the interbank payments infrastructure.
Wipro, a affiliate of the R3 consortium, partnered on the activity with Bank of Thailand and 8 bartering Thai banks. According to a May 7 account from Wipro:
Indian Authorities Creating a Hostile Environment
In adverse to the blockchain-centric initiatives taken by Thai cyberbanking authorities, action in Wipro’s built-in India charcoal in absolute disarray.
After initially dabbling with its own CBDC, the Reserve Bank of India (RBI) got abashed and started wielding the ban hammer with gay abandon. The Indian government spent abundant of 2018 angry their bend against the RBI, with the Supreme Court acting as mediators.
However, earlier this year, Indian bartering banks threatened to (and allegedly did) abutting the accounts of claimed cyberbanking barter who had any affairs in Bitcoin or added cryptocurrencies.
Now it seems that the government is falling into band with the RBI, allegedly due to fears that cryptocurrencies could destabilize the Indian rupee.
Not two weeks ago, Bitcoinist reported that a new FinTech authoritative head would exclude cryptocurrency firms. This amidst letters that the government is advancing to accomplish a blanket-ban on Bitcoin and added cryptocurrencies in the country.
Will Indian blockchain firms move to added jurisdictions? Share your thoughts below!
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