Shriram Transport Finance Company Limited, India’s largest asset financing company, has launched India’s first Blockchain assured Digital Fixed Deposit Certificates to provide 100% cryptographic security and authenticity on blockchain built on DocChain.io platform from Print2block. Polygon provides the scalable Public Trust audibility for the DocChain.io Platform.
Shriram’s customers will be able to access the digital certificates instantly via a Private trust infrastructure on DocChain.io, where users can download, share or verify the authenticity of the digital certificates at ease. Print2Block’s DocChcain.io platform uses Polygon to create public audits.
Using Polygon with DocChain.io helps Print2Block on the blockchain front to make the data auditable and be publicly verifiable.
While describing the successful launch, Mr. Umesh Revankar, Vice Chairman and Managing Director of Shriram Transport Finance Company, stated, “In our endeavor to continuously look for innovative ways to connect with customers and make their experience seamless, we are delighted to announce the launch of Blockchain technology. We are proud to be among the first NBFC to adopt this technology in India. We are constantly reinventing many such digital initiatives to make the journey of our customers secure, seamless, and convenient.”
V.Sendil Kumar, CTO of Shriram Capital Ltd, stated, “In the Shriram group, we are focusing more on digital business and strategies. One of our recent initiatives is enabling Blockchain for enhanced security in Fixed deposit for Shriram Transport Finance Company. We are planning to deploy shortly in Shriram City Union Finance too. Based on the feedback, we will explore possibilities of blockchain in both life and general Insurance companies.”
Sandeep Nailwal, Co-founder of Polygon said: “It’s a great use case built by Print2Block that utilizes Polygon as a public audit and brings existing financial assets to the blockchain. Adopting trustless Polygon blockchain improves the integrity of the data and ensures that they are immutable.”
Joji Varghese Founder and CEO of Print2Block “ We are delighted and humbled to on-board Shriram Transport Finance Company Limited, India’s largest asset financing company with DocChain.io . As a young startup in blockchain it has always been our honest effort to deliver the best to our clients like STFC. With DocChain.io being one of the largest private and fast growing blockchain platforms in the country to issue COVID RT PCR certificates and Universal Pass each day in large numbers, we see this as a new stepping stone for more business verticals to be on blockchain in India.”
About Shriram Transport Finance Company Limited (STFC):
Shriram Transport Finance Company Limited is the flagship company of the Shriram group. STFC is India~s largest player in commercial vehicle finance, which was established in the year 1979. The company has a niche presence in financing pre-owned trucks for Small Truck Owners (STOs) and has a presence with a network of 1,585 branches, 856 rural centers, and tie up over 500 private financiers across the Country.
Print2Block is a young startup, building document issuing platform on Blockchain. Print2Block runs one of the largest private blockchain with DocChain.io crossing over 20 Million plus transactions and growing, DocChain.io is used by many Govt and Private companies on a large production scale.
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Source : blog.polygon