The largest Polish bank PKO Bank Polski reported that in the near future, to strengthen security measures when working with customer data, will begin using the blockchain solution Trudatum from the British firm Coinform, which will store documents of more than 5 million customers of the bank. Adam Marcinjak, the Vice-President of the Board of Directors of the bank, said:
“Blockchain has a significant potential for increasing competition in the Polish banking sector … This is a relatively new technology, new applications of which are constantly around the world”
Plans for the introduction of blockchain technologies appeared after the first edition of the European banking directive PSD2, which entered into force this year.
The use of blockchain technologies in the banking industry in Poland is not yet very common, as confirmed by the CEO and co-founder of Coinfirm, Pavel Kushkovski:
“This shows that the Polish financial industry remains open to innovation and establishes international trends”
In May, PKO began to attract start-ups within the framework of the Fintech Initiative “Let’s Fintech With PKO Bank Polski!”, Where bank management “was looking for financial companies that are ready to present solutions and scale business in partnership with the bank.” Cooperation with the company Coinfirm began exactly during the events held by the bank.
Also in May, the largest credit bureau in Central and Eastern Europe, the Polish Credit Office, announced its intention to introduce a blockchain system into its system for reliable data storage and secure access to confidential customer information.
Recall that in June Poland recognized the legality of the purchase and sale of crypto-currencies, and in September the Polish government introduced a new, but expected bill clarifying the rules of taxation of the crypto currency trade: crypto traders will no longer be taxed for every online transaction