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Welcome to

Bank

Chain

BankChain

BankChain is a platform for banks for exploring, building and implementing blockchain solutions. Membership to BankChain is open to banks, NBFCs, payment banks and other financial institutions.

BankChain members

BankChain members (in chronological order) are:

  1. State Bank of India
  2. ICICI Bank
  3. DCB Bank
  4. Kotak Bank
  5. Federal Bank
  6. Deutsche Bank
  7. UAE Exchange
  8. Emirates NBD
  9. Lulu Exchange
  10. RAKBANK (National Bank of Ras Al-Khaimah)
  11. South Indian Bank
  12. National Payments Corporation of India
  13. Saraswat Bank
  14. RBL Bank
  15. TJSB Sahakari Bank
  16. -- CONFIDENTIAL --

Infrastructure Partner: Skylark Information Technologies Pvt. Ltd.

GCC Partner: Finesse LLC



A. What is blockchain technology?

At its core, a blockchain is an ordered and time-stamped sequence of "blocks of information". Blockchain technology derives its strength from strong cryptography.

Blockchains enable the rapid transfer and exchange of crypto-tokens (which can represent assets).

This can be done without the need for separate clearing, settlement and reconciliation.


B. Blockchain benefits

  1. Improve client satisfaction through faster, more convenient and secure services.
  2. Increase profits and reduce costs.
  3. Minimize fraud.
  4. Maximize efficiency, security & transparency.
  5. Accelerate information and money flows.
  6. Greatly improve auditability.
  7. Streamline paperwork.
  8. Showcase your bank as a global innovator.
  9. Be at the forefront of FinTech and emerging tech.

C. Pain points in implementing blockchain

  1. Installing, configuring, securing, troubleshooting, updating, and maintaining a blockchain ecosystem is a complex and time consuming task.

  2. There are 20+ blockchains and distributed ledger systems to choose from.

  3. Building blockchain solutions from the ground up is very expensive and time consuming.


D. BankChain membership benefits

BankChain members are entitled to several benefits. The details are as below:

  1. Access to mChain
  2. mChain is a permissioned multi-node blockchain that has 1 node for each BankChain member plus 1 admin node and 1 regulator node. You are provided root access to 1 node. Your node features the BankChain web-application which comprises the various active projects.

  3. Access to dedicated Yobichain
  4. YobiChain is your very own private blockchain ecosystem preloaded with web & FTP servers, a basic blockchain application, blockchain web demo and blockchain explorer.

  5. Access to source code
  6. You are granted permission to deal with specified PRIMECHAIN code and associated documentation files without restriction, including the rights to use, copy, modify, merge, publish, distribute. For details, please see: http://www.bankchain.org.in/docs/LICENSE.txt

    You can obtain this code in 2 ways - by logging into your mChain node as a root user, or from our private git repository (details available on request).

  7. Access to exclusive discussion forums
  8. Once we receive the email addresses and WhatsApp numbers of your organization's nominees for the various committees, we will add them to the exclusive BankChain slack and WhatsApp group.

  9. Priority access to training materials
  10. Personnel of member organizations are entitled to access these training materials. They can fill up the short form (name, email address and organization). As soon as their application is approved, the login credentials will be emailed to them.

  11. Future Money Conference
  12. Members are entitled to 2 VIP invites to Future Money Conference. Information about this will be provided to you once the dates for this year's Future Money Conference are announced.

  13. Nominate members to various BankChain committees
  14. Members may nominate:
    • 1 member to the BankChain Steering Committee
    • 2 members to the BankChain Technology Committee
    • 2 members to the BankChain Regulatory Committee
    • 2 members to the BankChain Business Committee


E. BankChain active projects

  1. Shared KYC / AML / CFT (April 2017)
  2. Syndication of loans / consortium lending (May 2017)
  3. Trade finance (June 2017)
  4. Asset registry & asset re-hypothecation (July 2017)
  5. Secure documents (August 2017)
  6. Cross border payments (September 2017)
  7. Peer-to-peer payments (October 2017)
  8. Blockchain Security Controls (November 2017)


F. BankChain committees

There are 4 committees in BankChain.

  1. BankChain Steering Committee
  2. BankChain Steering Committee is responsible for the overall direction of BankChain. This committee meets every quarter and consists of:
    • 1 nominee from each member bank,
    • 1 nominee from each technology & knowledge partner,
    • 1 nominee from Primechain Technologies.

  3. BankChain Technology Committee
  4. BankChain Technology Committee is responsible for the technological direction direction of BankChain. This committee meets every month and consists of:
    • 2 nominees from each member bank,
    • 2 nominees from each technology & knowledge partner,
    • 2 nominees from Primechain Technologies.

  5. BankChain Regulatory Committee
  6. BankChain Regulatory Committee supervises the regulatory, data privacy and data security implications of BankChain activities. This committee meets every month and consists of:
    • 2 nominees from each member bank,
    • 2 nominees from each technology & knowledge partner,
    • 2 nominees from Primechain Technologies.

  7. BankChain Business Committee
  8. BankChain Business Committee analyzes the business and commercial implications of BankChain activities. This committee meets every quarter and consists of:
    • 2 nominees from each member bank,
    • 2 nominees from each technology & knowledge partner,
    • 2 nominees from Primechain Technologies.

    The BankChain Technology Committee is responsible for the technological direction of BankChain. This committee consists of 2 nominees from each member bank, 1 nominee from advisory partner, 1 nominee from each technology partner, and 1 nominee from Primechain Technologies. This committee meets every month.

    This BankChain Regulatory Committee supervises the regulatory, data privacy and data security implications of BankChain activities. This committee consists of 2 nominees from each member bank, 1 nominee from advisory partner, 1 nominee from each technology partner and 1 nominee from Primechain Technologies. This committee meets every month.


    G. Become a member

    Membership to BankChain is open to banks, NBFCs, payment banks and other financial institutions. For details, email info@primechain.in

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