RBI arm tests tech behind Bitcoin

The Times of India: The technology partner for the project was New York-based MonetaGo, which provided the actual platform for test cases including payments with its proprietary enhanced information payments system (EIPS) and trade finance. In an interview to TOI, Jesse Chenard, CEO, MonetaGo, said that the project was believed to be the first ever end-to-end test of blockchain using existing banking protocols, including regulators, banks, financial institutions and clearing houses.

MonetaGo provides blockchain solutions to financial institutions and central banks. It also helps institutions identify and deploy software that integrates with existing banking systems, processes, and settlement mechanisms. “By using existing infrastructure and protocols instead of replacing them, we help our customers quickly get up-and-running without having to change their whole systems,” said Chenard.