Yes Bank, GSTN make the first move to enterprise blockchain

Enterprise blockchain solutions are moving out of labs and stepping into the real world. Axis Bank and XinFin are next to sign up. But how much can they really scale?

Nine years ago, we saw blockchain’s first successful implementation with Bitcoin

While corporates and governments despise Bitcoin, they are all bullish on blockchain

Till now, we hadn't seen enterprise blockchain solutions move from testing to commercial deployments

As firms line up with commercial launches in 2018, this year will give us clarity on blockchain's way forward

As of 31 January, Yes Bank has officially deployed a blockchain solution commercially. This comes a whole year after it became one of the first banks in India to use Hyperledger, an open source framework hosted by The Linux Foundation to build a custom application for its client Bajaj Electricals—an experiment with distributed ledger technology (DLT) where the bank had digitised financing for Bajaj Electricals and its suppliers.

AUTHOR

Sidhartha Shukla

In his earlier stint at Moneycontrol, the website owned by the Network18 group, Sid wrote on cryptocurrencies, cybersecurity, business, and finance. Born in Raipur, Chhattisgarh, Sid has spent most of his life in Jalandhar, Punjab. He has a BSc in Mathematics from St Xavier’s College, Mumbai. Sid is a comic book nerd and a big fan of Alan Moore, Neil Gaiman and Brian Azzarello. He can be reached at sidhartha at the rate the-ken.com

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