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Sampath Bank readies blockchain-based product

Sampath Bank of Sri Lanka is now ready to launch a blockchain-based product, the first of its kind in the country. It said it will introduce the product later this year. The bank’s MD Nanda Fernando said the bank has lined up new products in the blockchain platform and blockchain will be used to deliver products very soon. He added that the bank is waiting for the right time window. He also said the proposed products would have features like lower cost, ability to use them to suit the lifestyles of the customers, high convenience and mass usage. He maintained that the design, formation and implementation of this product are absolutely home-grown, carried out by the Sampath Bank staff.

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