/ Yes Bank Implements Multi-Nodal Blockchain Solution In India ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 3 January 2017


Yes Bank has implemented a multi-nodal blockchain transaction to fully digitize vendor financing for Bajaj Electricals. The implementation has been done on a blockchain-based smart contract written by fintech start-up Cateina Technologies.

The bank will also leverage IBM Watson Conversation, a cloud-based cognitive service, to enhance the digital experience of partners, corporate clients and developers collaborating with them on the integrated Blockchain - API Banking platform.

Capitalising on the efficiency and security features of Blockchain, the Bank has used the Hyperledger Fabric supported by IBM to design a vendor financing solution which allows Bajaj Electricals (anchor client) to digitize the process for discounting and disbursal of funds to its vendors by integrating seamlessly with Bank’s systems. The solution will also facilitate an automated debit from Bajaj Electricals' account by Yes Bank. The business logic and rules are captured in a smartcontract (Chain Code) developed by Cateina Technologies.
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