Citigroup has been conducting transactions on mobiles in Kenya without bank accounts, developing blockchains within the bank, and test-coins to run across them. Citi Innovation Labs have constructed three blockchains and a test currency using blockchain distributed ledger technology. The first is called “Kibana” which was developed by the Kenyan government as part of its National Digital Service (NDS) project.
Citigroup has been conducting transactions on mobiles in Kenya without bank accounts, developing blockchains within the bank, and test-coins to run across them. Citi Innovation Labs have constructed three blockchains and a test currency using blockchain distributed ledger technology. Citi has also been exploring payments in a cross boarder capacity, as well as the regulatory environments across various jurisdictions aiming to shrink transaction days to seconds in a transparent way that potentially eliminates counterparty risk.