Sri Lanka's central bank seeks blockchain-based KYC proposal

On November 29, the Central Bank of Sri Lanka issued a public statement on its website announcing that it was looking for technology companies that could establish a "proof of concept" shared KYC system for its banking industry. The bank invited, "The growing demand for digital financial services provides Sri Lanka with an opportunity to assess the possibility of using blockchain technology to further advance the financial sector in Sri Lanka." The "shared KYC" system will allow commercial banks and the central government to share and update customer data on the blockchain.