As one side everyone debating in India that Government going to regularize cryptocurrency or not & everyone waits for the 5th July for the decision. But between all this the Private bank giant "Kotak Mahindra Bank " confirmed that they are going to use Ripple in their international transactions.Kotak will use Ripple’s enterprise blockchain software, xCurrent, to enable end-to-end tracking of instant payments and settlements over RippleNet, the company’s enterprise blockchain network.This is not a FUD guys, this news published by CCN, you can check their site.
(thanks descryptive.com for the image)
Ya but there is one thing here that the Blockchain solutions does not use the cryptocurrency Ripple (XRP), they will use the xCurrent which is the separate product. Yes may be after reading this many guys think that then why it is good news for us that they are going to use xCurrent not the the XRP. Then think that way that at least this way India started to use Blochain technology and this shows good sign that if the Bank giant like Kotak started to invest in xCurrent then days are not far when the cryptocurrencies will be used in India or traded the way in India like in other countries. For me this is big news.
With the xCurrent, the average time to settle international money transfers could come down to minutes instead of several days. Kotak Mahindra going to use xCurrent for the same reason.Deepak Sharma, the chief digital officer of Kotak Mahindra said that :
Also the Ripple team reveled that more 3 Indian banks looking to connect through RippleNet to members outside India. For those who don't know about Kotak Mahindra and why this is big news, take a look on How big Kotak Mahindra bank is (all the figure is based on 2017 finance report )
- Kotak Mahindra Bank has a network of 1,369 branches across 689 locations
- Kotak Mahindra Bank has a 2163 ATMs in the country
- 33,013 Employees
- Revenue : US $3.2 billion
- Operating income : US $890 million
- Net income : US $510 million
- Total assets : US $32 billion
What you think about this news friends ??
Good news brother.
yes my friend
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good news for XRP holder's!!
@hgalue for sure my friend
I follow you and upvote you and in return Please give me an upvote and follow me.
@santosh786 thank you my friend
@flash07 It is good news for XRP holder! hope XRP will hits its ALT(All Time High) soon!
@rhn268 Hope for the best my friend
Yes finally some good news from india. Thanks @flash07
@dashingh thank you for your kind comments my friend
good news..
but do you think
india permitted cryptos...
i upvoted and commented.
hope you do the same...
@rs1007 I think for sure
yess it really is a good news for the investors..but still the final call will be from the indian government...for which we are waiting anxiously
@devsingh Hope for the best
Wow great news for ripple
@avinashdebnath for sure my friend
Wow that's really a great news, very positive post.
@steemitvkey24 yes my friend
Wowww really a fantastic news.. Good for Ripple holders.. Soon India will be fully crypto revolution country..
@archana25 good news for sure my friend
very good news brother
@maninder323 for sure my friend
Really.. this was the first bank to withdraw it's accounts for crypto exchange in India.
@anishag yes first bank to start this method
It’s like something good to see!!
ccrypto as per i said earlier! It’s the best currency with super potential !!
@yashshah991 for sure my friend
@flash07
Good decision from kotak mahindra bank i think now start time cryptoindia
@hirshan yes my friend
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@flash07 buddy this is such a positive news for crypto india. you might be aware of it or not that swift is used by the bank to transfer money from 1 country to another but it takes more than 2 days to transferred so if bank use ripple then it takes fraction of seconds to transfer.
@rahulwasan good to know my friend
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@jatinkkalra not possible without your support my friend
Great news for us crypto lovers to see that indian banks trying to get into crypto currencies
Yes my friend
This post has received a 4.42 % upvote from @boomerang.
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