Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » R3, India’s Tech Giant Builds Blockchain Powered Prototype for Digital Currency in Thailand

R3, India’s Tech Giant Builds Blockchain Powered Prototype for Digital Currency in Thailand

Kelly Cromley by Kelly Cromley
May 7, 2019
in Market News, News
Reading Time: 2 mins read
0

In collaboration with Blockchain consortium R3, Indian IT company Wipro has built the prototype of a blockchain-powered system that will enable the use of digital currency for interbank settlements in Thailand.

Wipro said in a statutory filing that the model intends to facilitate interbank transactions for an association made up of the Bank of Thailand and eight commercial banks in Thailand.

The press release describes that the system will be utilized by the country’s central bank, Bank of Thailand (BoT), and eight local commercial banks to facilitate decentralized interbank real-time gross settlement using central bank digital currency (CBDC).

Commenting on the blockchain project, Wipro Vice-President and Blockchain Theme leader Krishnakumar N Menon said “Building a blockchain prototype for issuing digital currency aligns with our vision of driving industry transformation through real-world applications of blockchain.”

Created as part of Project Inthanon’s first stage, the system will allow de-centralized interbank real-time gross settlement (RTGS) using wholesale Central Bank Digital Currency (CBDC) to demonstrate that technology can deliver important payment functionalities and improve effectiveness, it said.

Bank of Thailand introduced Project Inthanon in August 2018 with eight partnering banks To adopt fresh innovations and digitalization, the initiative seeks to enhance technological readiness of Thailand’s economic status. The solution is built on open source blockchain platform Corda developed by enterprise technology firm R3.

The scheme aims to increase Thailand’s financial sector’s technological prowess by adopting unique tech and digitalization. The BoT disclosed plans to develop a wholesale alternative of a CBDC that confines its use to financial organizations and markets, as compared to a CBDC that the public in general can utilize.

BoT’s governor had earlier stated it would take three to five years for international jurisdictions to switch from fiat cash to digital currencies. Recently, Siam Commercial Bank, Thailand’s biggest business bank, effectively finished a blockchain trial for cross-border business-to-business transfers along with PTT Exploration and Production Public Company Limited, a state oil firm.

Notably, Thai Securities and Exchange Commission Deputy Secretary-General Tipsuda Thavaramara indicated that the recently established state legislation enables the issuance of digital stocks and tokenized securities.

Previous Post

PepsiCo Realizes 28% Increase in Efficiency of Ad Campaign Powered By Blockchain

Next Post

Turkish University Sets up Blockchain Hub at Boston’s Northeastern University

Related Posts

NRW Bank

NRW BANK Issues €100M Blockchain Bond on Polygon

by Kelly Cromley
Jul 11, 2025
0

Germany’s NRW BANK has executed a landmark blockchain transaction by issuing €100 million in bonds using the Polygon network. The...

kraken

Kraken, BNB Chain, and Backed Collaborate to Tokenize US Stocks

by Kelly Cromley
Jul 11, 2025
0

Cryptocurrency exchange Kraken has announced a strategic collaboration with blockchain network BNB Chain and tokenization partner Backed, marking a new...

sft protocol partners with secondlive

SFT Protocol Partners with SecondLive to Advance AI in Web3

by Kelly Cromley
Jul 11, 2025
0

SFT Protocol has unveiled a strategic partnership with SecondLive, an AI-driven platform focused on modeling immersive digital environments. The alliance...

xstocks partners with bitget

Bitget Onchain Brings Tokenized Stocks to Crypto Traders

by Kelly Cromley
Jul 11, 2025
0

Bitget has expanded its Onchain platform by introducing support for tokenized stocks, enabling a direct link between traditional equity markets...

bluwhale partners with cdari

CDARI and Bluwhale AI Unite to Reshape Web3 Retail

by Kelly Cromley
Jul 11, 2025
0

CDARI has entered into a strategic alliance with Bluwhale AI, a platform that functions as the intelligence layer of Web3,...

ipepe partners with pop social

Meme Coin iPepe Teams Up with Pop Social for Web3 Overhaul

by Kelly Cromley
Jul 11, 2025
0

In a strategic effort to reshape the decentralized social media landscape, meme coin iPepe, which operates on the BNB Chain,...

Next Post
Turkish University Sets up Blockchain Hub at Boston's Northeastern University

Turkish University Sets up Blockchain Hub at Boston's Northeastern University

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Hyper Foundation Launched to Boost Hyperliquid Blockchain Development

    by Kelly Cromley
    Oct 15, 2024

Recent News

NRW Bank
Market News

NRW BANK Issues €100M Blockchain Bond on Polygon

by Kelly Cromley
Jul 11, 2025
kraken
Market News

Kraken, BNB Chain, and Backed Collaborate to Tokenize US Stocks

by Kelly Cromley
Jul 11, 2025
sft protocol partners with secondlive
Market News

SFT Protocol Partners with SecondLive to Advance AI in Web3

by Kelly Cromley
Jul 11, 2025
xstocks partners with bitget
Market News

Bitget Onchain Brings Tokenized Stocks to Crypto Traders

by Kelly Cromley
Jul 11, 2025
bluwhale partners with cdari
Market News

CDARI and Bluwhale AI Unite to Reshape Web3 Retail

by Kelly Cromley
Jul 11, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree