July 8, 2020 The Central Bank of Sri Lanka begins the development of a blockchain-based KYC solution.

The Central Bank of Sri Lanka (CBSL) has begun the development of a blockchain-based know-your-customer (KYC) proof-of-concept (POC). In a Tuesday press release, the central bank stated that the POC is being developed by the Sri Lankan companies Sampath Bank, the University of Colombo School of Computing, Yaala Labs, and Linearsix as well as the Swedish KYC company norbloc AB. The bank is seeking to improve the level of digital financial inclusion within the nation through the program.