Altcoins Talks - Cryptocurrency Forum
Further Discussions => Banks & Cryptos => Topic started by: Tanimariya on June 16, 2021, 12:40:30 PM
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IBBIC's new system will verify data for invoices on goods and services tax, eliminate paperwork and significantly reduce transaction times. Fifteen banks have formed a new company with a focus on leveraging blockchain technology to process letters of credit (LC) for domestic transactions within India.
According to a report by the Economic Times on Tuesday, 10 private sector banks, four public sector banks, and a foreign bank have forged the Indian Banks’ Blockchain Infrastructure Company (IBBIC). Source Link
(https://www.coindesk.com/india-banks-blockchain-letters-of-credit-new-company)