Shine india monthly magazine Published this article page no 33 Banking For efficient banking operations and efficiently using the KYC procedures offered by this technology. For instanceo SBI leads as the first bank to use KYC and facilitate remittances based on blockchain. o Yes Bank adopted this technology to fully digitise vendor financing for one of its clients which enables timely processing of vendor payments without physical documents and manual intervention while tracking the status of transactions in real time. o Cross border remittances can be made faster and less costly. Capital Markets in the areas ofo Trade Settlement Faster transfer of securities and payments and reduced trading cost by removing intermediaries o Commercial Papers Issuance and Trading Smart contract based issuance and allocation of Commercial paper to investors settlement of delivery and payments Cybersecurity Sensitive data moved to the blockchain can effectively manage access by minimizing the risk of leaks to hackers. For instanceo The Block Armour solution is the company which ringfences an organizations critical resources securely providing access to authorized users and devices. Healthcare and pharmaceuticals It involves a lot of sensitive clinical data which demands a secure and reliable system. For instance 74 o Kare4u Healthcare Solutions has partnered with hospitals insurance companies and patients to implement its Blockchainenabled mobile platform HealthPro to connect hospitals insurance companies and host medical records of patients Shine india monthly magazine buy.
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