Reserve Bank of India Shortlists Startups for Blockchain-Based Projects
If you are interested in the latest developments in the world of blockchain and fintech, you’ll be pleased to know that the Reserve Bank of India (RBI) has chosen five innovative ideas for its fifth sandbox cohort. The central bank announced that these ideas revolve around blockchain-based lending, asset management, and digital Know Your Customer (KYC) solutions.
Startup Projects Selected by RBI
– Signzy and Epifi, two major fintech startups, have presented compelling proposals to the RBI for consideration.
– Epifi, supported by Peak XV and Alpha Wave, will focus on creating a video KYC solution for non-resident Indians wanting to open bank accounts in India.
– Signzy has proposed a new technology to make video KYC processes more user-friendly and seamless.
– Connectingdot Consultancy has been chosen to develop a solution for monitoring credit accounts to predict and mitigate loan defaults.
– Finagg and IBDIC will collaborate on blockchain-based lending solutions for vendors and small businesses in India.
– These projects aim to streamline and revolutionize various aspects of financial services in the country.
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