Bankchain || Indian version of blockchain??

So, finally Indian government now supports bitcoin officially according to Economics times ,

State Bank of India has taken the lead in bringing lenders and tech companies together for using blockchain technology to share information among banks which will eventually help prevent frauds.

but really??
 to prevent frauds,  we are Indians sir you can't stop us, give us any secure facility and we'll break it :-P 
just kindly speaking but yes now state  bank of India  which is also the largest bank in India spearheading a newly unveiled consortium focused on blockchain applications .

Bank-Chain, India’s first Blockchain exploration consortium for banks was announced in Mumbai on 8th February, 2017.

IBM and Microsoft will reportedly be providing technical assistance for the group as it explores ways to leverage blockchain to reduce fraud and improve operational efficiency.

IBM has previously announced partnerships with Indian companies focused on blockchain development. Prime chain Technologies, a blockchain startup based in Mumbai, is also said to be working on the Bankchain project.

Other institutions said to be part of the project or interested in joining include Axis Bank, ICICI Bank, Kotak Mahindra Bank – all institutions that have experimented with the tech in the past, including a recent trial focused on know-your-customer (KYC) applications in which India’s biggest stock exchange was involved.

M Mahapatra, a representative for the State Bank, told The Economic Times:

“Being the largest bank, SBI has taken the lead in initiating blockchain, and we are in talks with banks and other companies for this.”