India’s major payment system to hire blockchain tech lead
The National Payments Corporation of India (NPCI) is looking to expand in the blockchain industry by hiring a head of blockchain.
The company posted a new LinkedIn position titled “Head of Blockchain.” The new hire will lead the institution’s expansion towards using blockchain technology and research into payment systems in India.
The position demands a high knowledge of the blockchain industry and previous experience working on blockchain projects of at least 16 years.
The job post also shows that the NPCI plans to conduct proofs-of-concept (POC) for blockchain projects in collaboration with various teams to establish feasibility and proposed efficiency/ cost/ security improvements.
The UPI development in India
The UPI (Unified Payments Interface) payments system is a real-time payment system developed by the National Payments Corporation of India (NPCI). It was launched in 2016 to improve digital payments in India. UPI allows users to link multiple bank accounts to a single mobile application and make seamless peer-to-peer transactions.
The UPI system operates on a mobile-first approach, enabling users to pay instantly using their smartphones. It eliminates the need for traditional payment methods like cash, cheques, or even card-based transactions. With UPI, users can transfer funds directly from their bank accounts to another person’s account using just their mobile number or a unique virtual payment address (VPA).
UPI has gained immense popularity in India due to its simplicity, speed, and security. It has witnessed significant growth in transaction volumes since its launch, with millions of users adopting the system for their daily payment needs. The system has also facilitated the development of digital payment platforms and fintech companies in India, as they can integrate UPI into their applications and offer seamless payment experiences to their customers.
