BENGALURU: To carry out joint research on Blockchain and Artificial Intelligence technology, National Payments Corporation of India (NPCI) signed a multi-year Memorandum of Understanding (MoU) with the Indian Institute of Science (IISc). The association is expected to propel innovation through the establishment of the ‘NPCI–IISc Centre of Excellence (CoE) for Deep Tech Research & Development’.
The partnership will focus on scalable blockchain platforms and multi-modal analytics over fintech data. Faculty members from five departments at IISc will work with NPCI researchers on practical challenges related to these areas, according to a press release.
Vishal Kanvaty, chief technology officer, NPCI, said, “As our nation progresses towards digital sustainability, we recognize the significant potential for research in deep technologies such as blockchain and AI to further enhance the payment landscape.”
Prof Navakanta Bhat, dean, Division of Interdisciplinary Sciences, IISc, said, “We are delighted to partner with NPCI in the emerging areas of deep tech and fintech analytics. This partnership will not only foster cutting-edge research and development of models and software prototypes, but also nurture professional development through workshops and training programmes. We look forward to the outcomes that will emerge from this new Centre of Excellence.”
“The joint research on distributed systems, cryptography and machine learning provides a unique opportunity for translational research that can enhance the scalability and effectiveness of the billion-scale platforms managed by NPCI,” said Prof Yogesh Simmhan, associate professor at the Department of Computational and Data Sciences, IISc.