Through the blockchain system, PKO Bank can build up a distributed ledger of client transactions and agreements.
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 distributed ledger 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. Coinfirm 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.
After several months of intensive work on the application of blockchain technology to confirm authenticity and Immutability of documents sent electronically by the bank, PKO Bank Polski has fully implemented Trudatum. As part of Coinfirm’s work the platform was delivered using the private blockchain based on IBM’s Hyperledger. The British-Polish startup was also responsible for the integration between the bank and KIR’s systems.
Blockchain Has the Potential to Improve Poland’s Banking Sector
Commenting on the launch, Adam Marciniak, the vice president of PKO's management board said: “Blockchain has the potential to increase the competitiveness of the Polish banking sector."
“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.”
Paweł Kuskowski, Coinfirm’s CEO and co-founder added: “the implementation of Trudatum in an institution as large as PKO is a breakthrough on a global scale. This demonstrates that the Polish financial sector is open to innovation and wants to become an international trend setter.”
When the partnership between Coinfirm 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.
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 distributed ledger 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. Coinfirm 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.
After several months of intensive work on the application of blockchain technology to confirm authenticity and Immutability of documents sent electronically by the bank, PKO Bank Polski has fully implemented Trudatum. As part of Coinfirm’s work the platform was delivered using the private blockchain based on IBM’s Hyperledger. The British-Polish startup was also responsible for the integration between the bank and KIR’s systems.
Blockchain Has the Potential to Improve Poland’s Banking Sector
Commenting on the launch, Adam Marciniak, the vice president of PKO's management board said: “Blockchain has the potential to increase the competitiveness of the Polish banking sector."
“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.”
Paweł Kuskowski, Coinfirm’s CEO and co-founder added: “the implementation of Trudatum in an institution as large as PKO is a breakthrough on a global scale. This demonstrates that the Polish financial sector is open to innovation and wants to become an international trend setter.”
When the partnership between Coinfirm 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.
Mastercard and Checkout.com Collaborate to Transform Online Travel Payment
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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