Polish Bank Alior Uses Ethereum Blockchain for Documents Authentication

Polish Bank Alior Uses Ethereum Blockchain for Documents Authentication

Polish bank Alior adds a feature to check the authenticity and integrity of official documents on the Ethereum blockchain. Forbes writes about it.

“Our mission is to be disruptive, so we want to provide innovative solutions, and we want other banks to follow us as well. We welcome if somebody copied our solution,” says blockchain strategy lead Tomasz Sienicki. “We are showing that it’s possible to use public blockchain even if some people think it’s impossible.”

This step is due to the requirement to provide customers with long-term access to documents. In 2017, the Office of Competition and Consumer Protection (UOKiK) obliged banks to create a separate page on the site where each customer can find information of interest.

Therefore, Alior went in search of new solutions. In October last year, the Blockchain Center of Excellence was created. According to Tomasz, the blockchain-based system meets all federal regulations.

“Everybody can copy this code and use it for his or her purposes. We encourage people to do so,” says Sienicki.

Thus, Alior is trying to prove to customers that they have nothing to hide.

“If we say the documents are actually verified and authentic, everybody can check it and confirm,” Sienicki says. “That’s not possible using a private blockchain.”

Clients can search for documents on Alior’s servers, and view the history in the blockchain to make sure that it has not been changed by the bank since its publication.

We want to remind you:

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