Indian tech multinational, Wipro, has developed a blockchain-based solution for banks in Thailand to settle dues. This comes as Indian government and banking authorities look to enact a blanket ban on all non-state-issued cryptocurrencies back home.
The settlement solution is a part of the first phase of Project Inthanon, which launched in August 2018. The initiative, led by Bank of Thailand, aims to ultimately implement a national Central Bank Digital Currency (CBDC). Phase one focused on rolling out the interbank payments infrastructure.