State Bank of India partners with BankChain and Intel to deploy blockchain solutions

The solution will help SBI to increase the efficiency of financial transactions without having to compromise on data confidentiality and transaction security. Intel SGX can improve blockchain privacy, security and scalability while Hyperledger Sawtooth is open source and takes advantage of silicon features like Intel SGX to deliver a blockchain application platform.

“We are breathing and living innovation every day. Blockchain is one such technology that enables more security, and agility, but the true impact of implementing it can only be determined by an open innovation strategy. The BankChain community welcomes Intel as the preferred technology advisor, to accelerate this innovation in India’s BFSI industry,” said Sudin Baraokar, Head – Innovation, State Bank of India.