Polish Bank to Use Coinfirm’s Blockchain Platform to Store Client’s Documents

Polish Bank to Use Coinfirm’s Blockchain Platform to Store Client’s Documents

  • Trudatum as blockchain-based platform for storing user’s documents
  • PKO Bank Polski(PKO BP) as the first bank to deploy the Trundatum platform   

Polish’s PKO Bank Polski(PKO BP) would officially use Coinfirm’s blockchain-based platform Trudatum to store and verify clients’ documents after a trial over a year, according to the media report.

PKO BP’s Director at Innovation Bureau Grzegorz Pawlicki was cited as saying that Blockchain meets the key requirements for guaranteeing confidentiality and integrity of the documents delivered to clients.

Coinfirm’s CEO Pawel Kuskowski was also cited as saying that PKO BP is the first to move towards deployment after conducting technological tests with a number of banks, adding that financial institutions all over the world will learn on how to apply blockchain successfully, followed by  PKO BP. The case overturned the myth of banks’ restraint with blockchain innovations, he added.

Documents recorded in the Trudatum ledger will be issued in the form of an irreversible hash file signed with the bank’s private key, which would allow clients to verify remotely if the files received from a business partner, or  if a modification of the document was attempted, per the news reports.

https://www.finextra.com/newsarticle/31876/pko-bank-polski-to-store-client-files-on-coinfirm-blockchain