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Peer-to-peer lending startups such as Faircent eye blockchain technology

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Peer-to-peer lending startups such as Faircent, Micrograam and i-lend are increasingly examining the potential of integrating blockchain technology into their systems to improve transparency levels, and act as a ledger system to automate and record transactions on their platforms.

These are still early days for blockchain, a distributed digital database with cryptographic safeguards that prevent anyone from altering data already recorded, and the P2P players will need to wait for the Reserve Bank of India’s approval to use this technology as a platform.

For more on this story visit the following link: Peer-to-peer lending startups such as Faircent eye blockchain technology

Source: Economic Times

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