<s>
India	B-Application
Stack	I-Application
refers	O
to	O
the	O
ambitious	O
project	O
of	O
creating	O
a	O
unified	O
software	O
platform	O
to	O
bring	O
India	O
's	O
population	O
into	O
the	O
digital	O
age	O
.	O
</s>
<s>
Its	O
website	O
describes	O
its	O
mission	O
thus	O
:	O
"	O
India	B-Application
Stack	I-Application
is	O
a	O
set	O
of	O
APIs	B-Application
that	O
allows	O
governments	O
,	O
businesses	O
,	O
startups	O
and	O
developers	O
to	O
utilize	O
a	O
unique	O
digital	O
Infrastructure	O
to	O
solve	O
India	O
’s	O
hard	O
problems	O
towards	O
presence-less	O
,	O
paperless	O
,	O
and	O
cashless	O
service	O
delivery	O
"	O
Of	O
the	O
four	O
"	O
distinct	O
technology	O
layers	O
"	O
mentioned	O
on	O
the	O
same	O
page	O
,	O
the	O
first	O
,	O
the	O
"	O
Presenceless	O
Layer	O
"	O
is	O
the	O
most	O
controversial	O
as	O
it	O
involves	O
storing	O
biometric	O
data	O
such	O
as	O
fingerprints	O
for	O
every	O
citizen	O
.	O
</s>
<s>
India	B-Application
Stack	I-Application
is	O
the	O
largest	O
open	O
API	B-Application
in	O
the	O
world	O
.	O
</s>
<s>
Since	O
its	O
deployment	O
,	O
India	O
has	O
been	O
organizing	O
hackathons	O
to	O
develop	O
applications	O
for	O
the	O
APIs	B-Application
.	O
</s>
<s>
India	B-Application
Stack	I-Application
is	O
being	O
implemented	O
in	O
stages	O
,	O
starting	O
with	O
the	O
introduction	O
in	O
2009	O
of	O
the	O
Aadhaar	O
"	O
Universal	O
ID	O
"	O
numbers	O
.	O
</s>
<s>
What	O
raised	O
the	O
profile	O
of	O
Aadhaar	O
and	O
India	B-Application
Stack	I-Application
worldwide	O
was	O
the	O
recent	O
demonetisation	O
whereby	O
500	O
and	O
1000	O
Rupee	O
notes	O
were	O
phased	O
out	O
,	O
officially	O
to	O
eliminate	O
forgeries	O
and	O
money-laundering	O
,	O
but	O
with	O
the	O
secondary	O
objective	O
of	O
hastening	O
the	O
transition	O
to	O
a	O
cashless	O
economy	O
.	O
</s>
<s>
Observers	O
have	O
argued	O
that	O
India	B-Application
Stack	I-Application
could	O
fast-track	O
the	O
move	O
to	O
digital	O
payment	O
systems	O
across	O
the	O
developed	O
world	O
and	O
mark	O
the	O
end	O
of	O
cash	O
.	O
</s>
<s>
To	O
test	O
all	O
4	O
layers	O
-	O
Presenceless	O
,	O
paperless	O
,	O
cashless	O
and	O
consent	O
-	O
of	O
India	B-Application
stack	I-Application
,	O
the	O
India	B-Application
Stack	I-Application
team	O
partnered	O
with	O
the	O
largest	O
FinTech	O
alternative	O
credit	O
company	O
in	O
India	O
,	O
Capital	O
Float	O
in	O
2016	O
.	O
</s>
<s>
After	O
the	O
Pilot	O
,	O
the	O
India	B-Application
Stack	I-Application
team	O
has	O
approached	O
other	O
alternate	O
lenders	O
to	O
utilize	O
the	O
platform	O
to	O
give	O
loans	O
to	O
under-served	O
populations	O
.	O
</s>
<s>
This	O
pilot	O
proved	O
a	O
clear	O
value	O
proposition	O
of	O
the	O
India	B-Application
Stack	I-Application
platform	O
for	O
the	O
FinTech	O
industry	O
.	O
</s>
