PKO Bank Polski, a Poland-based bank, launched a new blockchain system on Wednesday. The system is one of the biggest client-facing applications of blockchain technology in Europe.
Through the blockchain system, PKO Bank can build up a of client transactions and agreements. This will allow clients of the bank to access and authenticate all of their banking documents.
PKO Bank teamed up with Coinfirm, a Polish startup, to deploy the distributed ledger. is quickly becoming known on the European high-tech scene and developed the system which PKO Bank will use, called Trudatum.
The launch of the project, which was originally announced in March, follows almost a year of testing. Now, the technology is ready to be rolled out and PKO’s five million clients can expect to receive the digital terms and conditions for the products in the coming days, the bank says.
Blockchain has the potential to improve Poland’s banking sector
Source: PKO Bank Polski
“PKO Bank Polski is successfully implementing a strategy focused on digitisation, and the implementation of blockchain based solutions is part of this process and should strengthen our position as a technological leader in Polish banking.”
Source: Coinfirm Ltd.
When the partnership between and PKO began a year ago, Coinfirm only employed 12 people. Now, following a hiring spree the company has around 100 under its employment. According to the statement, both PKO and Coinfirm hope the launch of the blockchain system will help promote the technology and fintech in Poland.
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