Most of the blockchain technology news is coming from the banking sector these days. The recent one was updated from Poland’s largest bank PKO Bank Polski (PKO) which is about to launch a blockchain based solution for document authentication in the upcoming days. The bank is said to be releasing new product regulations to over 5 million customers so that each one of them can do the verification of the authenticity of the document through blockchain platform.
According to Coin Telegraph, Adam Marciniak Vice President of the bank’s management board commented that blockchain technology has wonderful potential to raise the competitiveness among Polish banks. He further added that it is a relatively new technology which is still evolving with new updates across the world. Blockchain technology news had already made its way to PKO back in March when their team started planning this pilot project with documents involving European Union’s PSD2 privacy directive.
Each document has a fingerprint or hash and the user can verify that online on this system if that matches or not. PKO needs to send regulations due to recent European and national rules governing.
PKO Bank Polski with National Clearing House has worked on this technology in which the customers will be informed electronically about the changes in the product regulations. The bank made an alliance with Polish-British Company Coinfirm to implement and develop innovative platform this ambitious pilot project. PKO becomes the first Polish bank to introduce blockchain technology in their system which is also going to strengthen their position in this sector. (Via Media PKO BP)
Similar Blockchain Projects
The other blockchain technology news has again come from European country Austria. The globally renowned Big Four consulting firm Ernst & Young is working in Vienna to authenticate government documents such as train schedules, public transport routes, and surrounding communities’ voting results. (Via Ledger Insights)
The post Blockchain Technology News: PKO Bank Polski Announce Ledger Based Document Verification Platform appeared first on OWLT Market.
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