The BankChain consortium , which has been working on solutions for smart contracts in banking and finance , is planning to begin beta - testing software solutions next month with India 's biggest lender , the State Bank . The trial will also test blockchain - enabled " know your customer " processing at a later date . The trial consists of a collaboration between almost 30 Indian and Middle Eastern firms and vendor PrimeChain Technologies .
The BankChain consortium, which has been working on applications for smart contracts in banking and finance, is set to begin beta-testing two solutions next month with India's biggest lender, the State Bank. The trial will also test blockchain-enabled "know your customer" processing at a later date. The consortium consists of a collaboration between almost 30 Indian and Middle Eastern banks and vendor PrimeChain Technologies.