Warsaw-based Alior bank of Poland announced to use Ethereum Blockchain in order to validate customer’s documents reported on 17 June 2019.
As per the report, The customers can validate the documents received at Alior bank by following a website link to its spot on the public blockchain.
We know exactly in which block of Ethereum the document with a given hash is published. If we know the block number, we also know the timestamp […] We know that the document was published some time ago and hasn’t been changed in that time [if the hash stored on the blockchain is identical to the hash calculated from the document], so we can prove it hasn’t been replaced on our servers– blockchain technology lead at Alior, Piotr Adamczyk
After observing the positive changes in the regulations in the country the current blockchain based solutions developed by the Alior Bank to enhanced their security and to provide better services to their customers.
Previously it was difficult for customers to authenticate the issued documents from Alior bank on their website as the pages of the website can be changed very easily.
So the Alior bank worked hard to develop this blockchain based online verification solution that helped its customers to verify the documents easily and securely.
The Alior management department reported that this is the first time happened in Poland when a bank uses a public blockchain as most of the past banks developed only used a private blockchain.
We want people to verify that we did everything right and we don’t conceal anything. If we say the documents are actually verified and authentic, everybody can check it and confirm […] That’s not possible using a private blockchain– Blockchain strategy lead at Alior, Tomasz Sienicki
Last week, Facebook gets investment from dozens of big companies including Uber, Paypal, Visa and Mastercard for its cryptocurrency project.