The National Payments Corporation of India (NPCI) has announced the signing of an agreement with the  Indian Institute of Science (IISc), Bangalore. This collaboration aims to research Blockchain and Artificial Intelligence (AI) technology.

NPCI and IISc institute will launch technical research to develop their own deep technologies products with the name “NPCI–IISc CoE for Deep Tech Research & Development.” Therefore, the academic hub will concentrate on the class of scalable blockchain platforms. Work will be divided amongst the faculties of 5 different departments of IISc, and the research team from NPC will do the institutes for conservation.

“Vishal Kankhde, the CTO of NPCI, created attention pointing to the possibilities of new technologies that the organization is looking forward to using. The goal is to apply the technology to create better consumer experiences,” Vishal Kankhde, the CTO of NPCI, said. 

Prof Navakanta Bhat, Dean of the Division of Interdisciplinary Sciences at IISc, expressed delight in partnering with NPCI in the emerging areas of deep tech and fintech analytics. He highlighted the partnership’s potential to foster cutting-edge research. 

Prof Yogesh Simmhan, Associate Professor at the Department of Computational and Data Sciences at IISc, Emphasized the chance for research to improve the scalability and effectiveness of NPCI’s large-scale platforms.

The Indian Institute of Science, established in 1909, is India’s premier institute for advanced scientific and technological research and education. In 2018, IISc was selected as an Institution of Eminence (IoE) by the Government of India and consistently ranks among the top Indian institutions in world university rankings.

Also read: Republik to Launch AI-Powered Decentralized Social Platform