Poland’s biggest bank to launch Blockchain platform for Document Management

Poland’s largest bank, PKO Bank Polski, is all set to launch a Blockchain solution for its customers by partnering up with UK based Coinform . The announcement was made in press-release by both parties on Thursday, September 20th.

PKO Bank Polski will use Coinform’s Trudatum in providing blockchain-issued paperwork to around five million account holders, as part of a drive to enhance the security of customer data.

The Vice President of the bank’s management board, Adam Marciniak said that Blockchain has huge potential in increasing the competitiveness of the Polish banking sector.

The idea for the plan was conceived in March, with the first issuance set to involve documents relating to the European Union’s PSD2 privacy directive which came into force this year.

With cryptocurrency businesses constantly complaining about hostile treatment from institutions, the move stands out in the Polish banking industry which is only beginning to implement Blockchain.

In May, PKO began recruiting startups for its Fintech initiative known as ‘Let’s Fintech with PKO Bank Polski- the Blockchain partnership arose from this initiative.

Link to original article here.

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