PKO introduces blockchain technology as a durable medium. First document distribution is planned in this month
This month PKO Bank plans to use blockchain technology to distribute information about changes in its offer following the PSD II directive to its clients.
“The bank acquired the ability to send correspondence to its customers using blockchain technology”, said Rafał Kozłowski, a PKO vice-president.
It means that the bank might become the first financial institution in Poland which uses blockchain technology as a durable medium. Other banks decided to implement the WORM matrix solution.
In 2016 the Office of Competition and Consumer Protection started to check ways of informing banks’ clients about one-sided changes in agreements or rates. According to the Office banks should use a durable medium in such situation. Also UOKiK does not agree to send this information via the electronic banking system.