"The endorsement of blockchain technology from the IDRBT and the NPCI allows the study and implementation to move to the next level. This research shows that blockchain technology can reduce processing times and costs in a transparent and secure manner. We are excited to have gotten the opportunity to work with the IDRBT, NPCI and some of India's leading banks," said Jesse Chenard, Chief Executive Officer of MonetaGo.
Clear Path to Production
This collaboration of financial institutions, banking authorities, and clearing corporations using existing protocols demonstrates the first step towards creating a commercially viable blockchain with fiat currency settlement.
Headquartered in New York, MonetaGo is a software company providing blockchain solutions to financial institutions and central banks. Through its core product offering, MonetaGo enables financial institutions to identify and deploy the appropriate blockchain technology, while supporting existing banking systems, processes, and settlement mechanisms.
For additional information contact:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/monetago-successfully-demonstrates-the-effectiveness-of-blockchain-technology-in-collaboration-with-indian-banking-authorities-and-major-banks-300387210.html