PKO Bank Polski blockchain solution imminent

September 20, 2018
Chris Wheal

PKO Bank Polski, Poland’s biggest banking player, is set to unveil a customer documents blockchain solution with the support of London-based Coinfirm within days. The news came via a press release this morning (though news of co-operation had been flagged up earlier in the year). 

It’s thought the Polish banking giant will deploy Coinform’s Trudatum to allow paperwork to be disseminated to 5m accounts. 

‘Open to innovation’

“It shows that the Polish financial industry is still open to innovation and sets international trends,” the press release said, attributing the quote to Coinfirm boss Pawel Kuskowski. 

Bank Polski is making a break for blockchain tech with 5m customer accounts affected

“PKO Bank Polski is successfully implementing a strategy,” said the bank, “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.”

Financial sector up for blockchain business

For PKO to use Trudatum is a breakthrough on a global scale added Paweł Kuskowski.“This demonstrates that the Polish financial sector is open to innovation and wants to become an international trend setter.”

Warsaw City Hall, Plac Bankowy Square

Poland has been somewhat slow off the mark in terms of broad-based blockchain take-up, not helped by some lurking prejudices. In early summer the Polish Bitcoin Association (PBS) complained to the Polish government about the behaviour of major Polish institutions. 

It was claimed that some banking players were closing bank accounts and refusing to work with some crypto operators. 

All documents absorbed into the Trudatum ledger are supplied with an irreversible hash file signed with the bank’s own private key.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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