Poland's largest bank will launch a blockchain solution for its client documents through a partnership with Coinform based in the UK "in the coming days", the parties confirmed in a press release on Thursday 20 September.
Part of a journey to To improve the security of customer data, PKO Bank Polski will use Coinform's Trudatum to provide paper-based documents with blockchain to its five million account holders.
"Blockchain offers enormous potential to increase the competitiveness of the Polish banking sector", Marciniak, vice-president
"It is a relatively new technology for which applications are continuously being detected all over the world."
The plans had originally emerged in March, with the first issue intended to involve documents related to the PSD2 Privacy Directive of the European Union which entered into force this year
. The move stands out in the Polish banking sector, which is only beginning to im plement blockchain at a time when the cryptocurrency businesses continue to complain about hostile treatment by the institutions
"Prove that the Polish financial industry is still open to innovation and sets international trends, "continued Coinfirm's managing director and co-founder Pawel Kuskowski.
In May PKO started recruiting startups for its fintech initiative dubbed "Let & # 39; s Fintech With PKO Bank Polski!" With the blockchain partnership deriving from this initiative.
Executives "seeks fintech companies who are ready to pilot their solution and scale their activities in collaboration with the Bank," explains the program's website.