Alior Bank has announced the introduction of the digital durable medium based on the use of the public blockchain – Ethereum. Thanks to this the bank’s clients use Ethereum to verify the authenticity of documents, including fees and commissions lists as well as service terms and regulations. They only need access to the internet and a dedicated browser.
The Polish Office of Competition and Consumer Protection (UOKiK) requires banks to send digital documents to their customers in accordance with special rules. First of all the institutions need to guarantee the unchangeability of the documents and ensure access to them after the agreement’s termination. Most banks in Poland use the WORM solution. PKO and BNP Paribas implemented a private blockchain. Alior is the first to use a public network – Ethereum- to send public documents.
