BRICS and Blockchains

The Indian Prime Minister Narendra Modi has approved a Memorandum of Understanding (MoU) on collaborative research on distributed ledger and blockchain technology for economic development.

Participating institutions are the Export-Import Bank of India (Exim Bank) and BRICS member banks—under the BRICS Interbank Cooperation Mechanism—including, Banco Nacional de Desenvolvimento Economico e Social or BNDES of Brazil, China Development Bank, State Corporation Bank for Development and Foreign Economic Affairs or Vnesheconombank, of Russia and Development Bank of Southern Africa.