CBSL expresses intrest in Blockchain technology

CBSL expresses intrest in Blockchain technology

CBSL expresses intrest in Blockchain technology

Written by Staff Writer

03 Dec, 2019 | 9:58 am

Colombo (News 1st) – The Central Bank of Sri Lanka (CBSL) states that the increasing demand for digitalized financial services has created an opportunity for Sri Lanka to evaluate the possibility of adopting Blockchain Technology to further advance Sri Lanka’s financial sector.

The CBSL has issued an invitation to tech companies to develop a “proof of concept” for a shared KYC system for its banking industry, based on blockchain.

CBSL states that the new system is expected to facilitate several potential use-cases that will increase efficiencies in the financial sector and help increase financial inclusion in Sri Lanka.

 

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