Blockchain Revolution Started in India : Indian Bank Kotak Mahindra Confirmed To Use Ripple (xCurrent) for Instant International Transactions by flash07

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cryptocurrency · @flash07 · Jun 28 '18 (edited)

$32.40

Blockchain Revolution Started in India : Indian Bank Kotak Mahindra Confirmed To Use Ripple (xCurrent) for Instant International Transactions

As one side everyone debating in India that Government going to regularize cryptocurrency or not & everyone waits for the 5th July for the decision. But between all this the Private bank giant "Kotak Mahindra Bank " confirmed that they are going to use Ripple in their international transactions.Kotak will use Ripple’s enterprise blockchain software, xCurrent, to enable end-to-end tracking of instant payments and settlements over RippleNet, the company’s enterprise blockchain network.This is not a FUD guys, this news published by CCN, you can check their site.

<center>![40345011504_528f879fd0_z.jpg](https://cdn.steemitimages.com/DQmX7s6e3Ev1dXGRT3sXrKANn5v1kcKLDHBo2JysNZ2L9pc/40345011504_528f879fd0_z.jpg)</center>
(thanks  descryptive.com for the image)

Ya but there is one thing here that the Blockchain solutions does not use the cryptocurrency Ripple (XRP), they will use the xCurrent which is the separate product. Yes may be after reading this many guys think that then why it is good news for us that they are going to use xCurrent not the the XRP. Then think that way that at least  this way India started to use Blochain technology and this shows good sign that if the Bank giant like Kotak started to invest in xCurrent then days are not far when the cryptocurrencies will be used in India or traded the way in India like in other countries. For me this is big news.

<center>![Screen Shot 2018-06-28 at 3.35.49 PM.png](https://cdn.steemitimages.com/DQmaM8gA2npH7PDZ6R5nxwGFnrkTE12mYpS4XAMFZbrAHee/Screen%20Shot%202018-06-28%20at%203.35.49%20PM.png)</center>

<center>![Screen Shot 2018-06-28 at 3.37.43 PM.png](https://cdn.steemitimages.com/DQmUeF6UGLCsn7o2GrFiYh5ib3NsttFQgrR8pDHnXESRm3s/Screen%20Shot%202018-06-28%20at%203.37.43%20PM.png)</center>
With the xCurrent, the average time to settle international money transfers could come down to minutes instead of several days. Kotak Mahindra going to use xCurrent for the same reason.Deepak Sharma, the chief digital officer of Kotak Mahindra said that :

<center>![Screen Shot 2018-06-28 at 3.20.33 PM.png](https://cdn.steemitimages.com/DQmViDRasSAKpxkG8JsrtYi8xrD8QZZyGPFnhAJ3oWyXaEk/Screen%20Shot%202018-06-28%20at%203.20.33%20PM.png)</center>

Also the Ripple team reveled that more 3 Indian banks looking to connect through RippleNet to members outside India. For those who don't know about Kotak Mahindra and why this is big news, take a look on How big Kotak Mahindra bank is (all the figure is based on 2017 finance report )

<center>![Screen Shot 2018-06-28 at 3.33.44 PM.png](https://cdn.steemitimages.com/DQmW1ry8RkQPkPNCjYRN5C8KdUE11BkESFsRTWcCr8BKqrp/Screen%20Shot%202018-06-28%20at%203.33.44%20PM.png)
</center>

- Kotak Mahindra Bank has a network of 1,369 branches across 689 locations
- Kotak Mahindra Bank has a 2163 ATMs in the country
- 33,013 Employees
- Revenue : US $3.2 billion
- Operating income : US $890 million
- Net income : US $510 million
- Total assets : US $32 billion

What you think about this news friends ??

<center><h3>&#128524; KEEP CALM & SEE CRYPTOCURRENCY TO GROW &#128524;</h3></center>

👍 appreciator, smartsteem, therising, boomerang, jerrybanfield, lrd, pushup, byresteem, brandonfrye, promotedpost, alfanso, inciter, a-bot, dlivepromoter, ubot, isotonic, profitvote, tainika, peoplesbot, lightningbolt, deveerei, dwightjaden, jeseemei, drfk, jazzman123, flash07, mrswhale, avtoledy, drawingwithflare, odl, sammeyboj, tinystudio, anandmishra, nithog, sanjeevbhai, navneetkumar, pathik, odepasqua, arv1, micaiah, fasan, zishanreza, thewb, asher18, mholgekar1, rupesh723, asfuriah, santosh786, blessednami, rashmishetty, haneun, muntadhar, archana25, jairaj, nicestbot, hirshan, rs1007, drajaykotadia, naturecenter, musakul, busrae, nazann, sonuncukus, oughtershawuas5, and 221 others

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@anishag · Jun 28 '18

Really.. this was the first bank to withdraw it's accounts for crypto exchange in India.

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@flash07 · Jun 28 '18

@anishag yes first bank to start this method

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@archana25 · Jun 28 '18

Wowww really a fantastic news..  Good for Ripple holders.. Soon India will be fully crypto revolution country..

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@flash07 · Jun 28 '18

@archana25 good news for sure my friend

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@avinashdebnath · Jun 28 '18

Wow great news for ripple

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@flash07 · Jun 28 '18

@avinashdebnath for sure my friend

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@boomerang · Jun 28 '18

This post has received a 4.42 % upvote from @boomerang.

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@dashingh · Jun 28 '18

Yes finally some good news from india. Thanks @flash07

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@flash07 · Jun 28 '18

@dashingh thank you for your kind comments my friend

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@devsingh · Jun 28 '18

yess it really is a good news for the investors..but still the final call will be from the indian government...for which we are waiting anxiously

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@flash07 · Jun 28 '18

@devsingh Hope for the best

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@hgalue · Jun 28 '18

good news for XRP holder's!!

👍 mholgekar1

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@flash07 · Jun 28 '18

@hgalue for sure my friend

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@hirshan · Jun 28 '18 (edited)

@flash07
Good decision from kotak mahindra bank i think now start time cryptoindia

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@flash07 · Jun 28 '18

@hirshan yes my friend

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@hirshan · Jun 29 '18

Brother app bahot fatafat grow kar rahe ho vo kese??

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@jatinkkalra · Jun 28 '18

bhai mast earning!

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@flash07 · Jun 28 '18

@jatinkkalra not possible without your support my friend

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@maninder323 · Jun 28 '18

very good news brother

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@flash07 · Jun 28 '18

@maninder323 for sure my friend

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@mholgekar1 · Jun 28 '18

Great news for us crypto lovers to see that indian banks trying to get into crypto currencies

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@flash07 · Jun 28 '18

Yes my friend

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@rahulwasan · Jun 28 '18

@flash07 buddy this is such a positive news for crypto india. you might be aware of it or not that swift is used by the bank to transfer money from 1 country to another but it takes more than 2 days to transferred so if bank use ripple then it takes fraction of seconds to transfer.

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@flash07 · Jun 28 '18

@rahulwasan good to know my friend

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@rhn268 · Jun 28 '18

@flash07 It is good news for XRP holder! hope XRP will hits its ALT(All Time High) soon!

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@flash07 · Jun 28 '18

@rhn268 Hope for the best my friend

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@rs1007 · Jun 28 '18

good news..
but do you think 
india permitted cryptos...

 i upvoted and commented.
hope you do the same...

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@flash07 · Jun 28 '18

@rs1007 I think for sure

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@rupesh723 · Jun 29 '18

@flash07 u r blog is really valuable INfo

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@sanjugangber · Jun 28 '18

awesome info sir
upvoted you pls upvote my post

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@flash07 · Jun 28 '18

@sanjugangber thank you my friend..

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@santosh786 · Jun 28 '18

I follow you and upvote you and in return Please give me an upvote and follow me.

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@flash07 · Jun 28 '18

@santosh786 thank you my friend

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@steemitboard · Jun 28 '18

Well done @flash07! You successfully guessed the match result.

[![](https://steemitimages.com/70x70/http://steemitboard.com/events/wc2018/wc2018-45.png)](http://steemitboard.com/@flash07)  Group Phase - Senegal vs Columbia
<sub>_Click on the badge to view your Board of Honor._</sub>
<sub>Do you want to know your current ranking? Read [this post](https://steemit.com/steemitboard/@steemitboard/check-your-rank-in-the-steemitboard-world-cup-contest)


**Do not miss the [last post](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-results-of-day-14) from @steemitboard!**

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@steemitvkey24 · Jun 28 '18

Wow that's really a great news, very positive post.

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@flash07 · Jun 28 '18

@steemitvkey24 yes my friend

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@tinystudio · Jun 28 '18

Good news brother.

👍 tinystudio

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@flash07 · Jun 28 '18

yes my friend

👍 tinystudio

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@tinystudio · Jun 29 '18

friend plz help me to grow on steemit with your tips.

👍 tinystudio

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@yashshah991 · Jun 28 '18

It’s like something good to see!!
ccrypto as per i said earlier! It’s the best currency with super potential !!

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@flash07 · Jun 28 '18

@yashshah991 for sure my friend

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