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Guarantee of authenticity, thanks to the Blockchain: Polish Bank Alior relies on Ethereum

The Polish Bank Alior wants to offer customers a guarantee of authenticity of your documents. It is counting on the public Ethereum Blockchain. On this, the Ban

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Guarantee of authenticity, thanks to the Blockchain: Polish Bank Alior relies on Ethereum

The Polish Bank Alior wants to offer customers a guarantee of authenticity of your documents. It is counting on the public Ethereum Blockchain. On this, the Bank wants to save in the future, Hashes, digital signatures of the customer documents. With the advance of Alior responds to the appropriate provisions of the Polish law. This obliged banks, business documents to secure the long-term proven.

By David Barkhausen
18. June 2019 ETH$267,68 -1.77% part Facebook Twitter LinkedIn xing mail

The officer of Polish money houses do not have it easy. Because every business that enters into a Bank, requires a permanent backup. Every customer must always have access to these business documents. Thus, the Polish law requires it. An Online database, however, is not sufficient for this purpose. The result of this are mountains, huge archives and Files.

The Polish Bank Alior, one of the largest banks in the country, has taken this opportunity to rethink. Now, the Bank announced a previous solution paths rather unusual answer.

As the US economic news, Forbes on Monday, the 17th. June, to reports, wants to put the Bank with the Ethereum block Chain in the future on publicly accessible Distributed Ledger technology. In the process, Alior, one of the first financial institutions in the world, for the management and processing of data such a Public Ledger to. Previous efforts in the banking sector on the part of J. P. Morgan's use so far, mostly private, in their own systems closed Permissioned block chains.

to meet With the permanent remote data backup Alior assumes all legal guidelines of the Polish financial supervision. At the same time, the outsourcing of documents to provide customers with a guarantee of authenticity.

Our mission is to be revolutionary. Therefore, we want to create innovative solutions and to other banks to motivate them to follow us [...] While some think that this is impossible, we show that one can use a public Blockchain very well [in the banking sector],

Tomasz Sienicki by the Bank's internal Blockchain Center of Excellence self-aware.

If we claim that the documents are authentic, can anyone check and confirm. This is a private Blockchain so it is not possible.

Alior: Hashes are supposed to guarantee of authenticity

to provide For the use of Smart Contracts that the Hashes of the customer's document and the digital, with time provided with signatures, stamping on the Ethereum Blockchain anchor come to it in the future. Customers want to verify their genuineness, you can compare the Hashes of the documents you receive online from Alior, which on the Blockchain. So you can check whether the documents have been edited in the meantime.

We know exactly what the Ethereum Block a document with a given Hash has been published [...]. Thus, we can prove that the document has not been replaced on our servers,

Aliors Blockchain-architect Piotr Adamczyk of the advantages of his system for sure.

the fact that the Blockchain stores only the Hashes, a kind of digital fingerprint of the documents, and no directly personal data, the initiative is also in line with the regulations of the European Union. The General data protection regulation (DSGVO) for banks and service providers about grants, the so-called "right to be Forgotten". Thus, customers should be able to have your data deleted at any time. A permanent storage of whole documents on the Blockchain, however, would prevent this.

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