<h1>RBI Acknowledges Blockchain's Potential; Adoption Key for Success, Applications Tested in Cross Border Payments Sandbox.</h1> The Reserve Bank of India (RBI) recognizes Blockchain Technology (BCT) as a promising innovation, with its effectiveness contingent on its adoption and adaptation across various applications. This was conveyed by a Union Minister in response to a parliamentary question. Although BCT is highlighted as an innovative technology for testing in RBI's sandbox environment, no specific areas for its use in Indian banks have been identified. However, blockchain-based applications have been tested under the Cross Border Payments theme in the Regulatory Sandbox.