NSE bullion derivatives settlement on blockchain may be a game changer

Platform will be extended to spot gold exchange

In a first for India, bullion derivatives contracts will be settled on a blockchain platform. This will help in global acceptance of gold refined by Indian bullion refineries, giving a fillip to the local industry, exports, as well as investments.

From November 1, the National Stock Exchange (NSE) will accept gold delivery only on the blockchain platform. The NSE, in collaboration with Bengaluru-based start-up Chainflux, launched the NSE-Shine project last Wednesday. The exchange was working on the project for almost a year, along with India Gold Policy Centre at the Indian Institute of Management Ahmedabad (IIMA) and the India Bullion