NPCI and IISc Collaborate on Blockchain Research

Recently, NPCI and IISc Bengaluru joined forces to conduct research on emerging technologies like blockchain and AI.

Key Points

Memorandum of Understanding (MoU): Both parties sign an MoU to formalize the collaboration and commit to research and development initiatives.
Focus on Blockchain: The collaboration aims to develop scalable blockchain platforms and a multi-modal analytics platform for fintech data oversight.
NPCI's Role: As an initiative of the RBI, NPCI focuses on retail payment system innovations, while IISc is a premier institute for advanced research.
Significance of Research: Deep technology research in blockchain and AI is seen as crucial for enhancing India's digital payment landscape.
Previous Initiatives: NPCI has previously launched projects like Falcon and Vajra to explore and utilize blockchain technology for payment processes.
Broadening Research Scope: The collaboration extends beyond blockchain to include research in cryptography and machine learning.