India Announces ‘Vajra’: A Blockchain-Based Payment Platform

guest · Dec 31, 2019

India Announces ‘Vajra’: A Blockchain-Based Payment Platform
December 31, 2019
https://fossbytes.com/india-announces-vajra-blockchain-based-payment-platform/

The cryptocurrency scenario in India is still obscure but the National Payment Corporation of India (NPCI) has announced a blockchain-based payment system called Vajra.

NPCI is leveraging the distributed ledger technology (DLT) to create a payment system that is easy to use and allows high speed and secure transactions at the same time.
Vajra blockchain payment system
Vajra is a closed ecosystem platform just like “an invite only” members club. This means that the blockchain network won’t be accessible by random participants.

Vajra uses the DLT message for handling the communication between the nodes. All interactions with the external participants are authenticated by the nodes to make data access secure and risk-free.
The key goals of Vajra project is to bring a more data secure, transaction transparent and robust payment mechanism in the country.
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India Announces ‘Vajra’: A Blockchain-Based Payment Platform

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