IT industry body Nasscom has partnered BlockSmiths and Quatrro to set up a Special Interest Group (SIG) for blockchain technology in Delhi-NCR.
The SIG will educate and inform the public along with working on various Blockchain use cases in both fin-tech and non-fintech industries, BlockSmiths said in a statement.
The SIG also has representation from over 15 member organisations like Axis Bank, Nagarro, Deloitte, Nokia, Genpact, and NIIT.
The blockchain is like a huge, decentralised ledger for Bitcoin (digital currency) that records every transaction and stores this information on a global network so that it cannot be tampered with.
It allows secure, peer-to-peer transactions that can be verified without any centralised authority.
Banks and other financial institutions are increasingly investing in blockchain technology as it cuts down their costs and makes their operations faster and more transparent.
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