Central Bank Of Sri Lanka Looks To Build Know-Your-Customer System On Blockchain Tech

Tuesday, December 3, 2019

The Central Bank of Sri Lanka has a call out for tech companies that can help it develop a blockchain-based know-your-customer (KYC) platform.

The bank made the announcement on its website on Nov. 29, requesting tech companies who can build a “proof of concept” shared KYC system that would allow commercial banks and the central government to share and update customer data on a blockchain.

“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 bank’s invitation to apply read.

Photo courtesy of Dhammika Heenpella.

Source: PYMNTS (link opens in a new window)

digital finance, financial inclusion