Home News Blockchain Intel Working With Indian FinTech Firms For Blockchain Deployment: Intel India Chief

Intel Working With Indian FinTech Firms For Blockchain Deployment: Intel India Chief

May 29, 2018 08:52
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It turns out that among the global tech powerhouses IBM is not alone working with Indian firms on their blockchain needs. Chipmaking giant Intel is also working with Indian companies for deployment of blockchain technology, company’s India Unit Head Nivruti Rai recently told Business Standard during an interview.

Ms. Rai, who spoke to Business Standard journalist Debasis Mohapatra on the sidelines of an announcement in partnership with Consulate of Israel, said that though she can’t reveal the name of her company’s customers, there’re many Indian firms with whom Intel India is working for development of new blockchain based technologies. She said:

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“We already have a product from Intel and Intel India has contributed to it. I will tell you unless this technology is put to right use, it creates no value. So, for blockchain, we are looking at what are the problem statements within India. I can’t name the customers we are working with, but there are exciting opportunities. We are working on many different possibilities and fintech is one of them.”

We know at least one Indian customer of Intel that may be working with it for deployment of FinTech systems based on blockchain: State Bank of India. It was heard last year in November that SBI is working with Intel for deployment of BankChain eKYC system that can be used for even speedier and foolproof identity verification of customers. IT Services giant Wipro had also joined Enterprise Ethereum Alliance recently as a founding member, whose other founding members include Microsoft and Intel. So there’s a possibility of Wipro also working with Intel on some blockchain based deployments, but there’re no official or unofficial informatin to suggest that as of now. Plus, Wipro is also not a FinTech firm.

We’ll have to wait and watch to figure out which Indian firms are working with Intel for deployment of blockchain technology. Now when life has been made difficult for Indian blockchain startups by banning cryptocurrencies, it’s obvious that beneficiaries will be foreign enterprises.

Technology and business were my core interests, so it wasn't surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news. You can connect with me on Facebook to learn more about me. :)

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