Polish bank utilizes Ethereum blockchain for document verification

One of the top ten banks in Poland, Alior Bank, is utilizing the Ethereum blockchain system to verify documents, enabling users to use the Ethereum blockchain to verify the authenticity and integrity of official documents they receive.

The Alior Bank, headquartered in the capital city of Warsaw, has announced that their solution will reduce unnecessary paper document consumption, while saving the bank millions of dollars in operational costs.

According to a report, financial institutions often prefer to use private blockchains controlled by banks themselves, but Alior Bank claims this is the first case of a bank in Poland using a public blockchain.

Piotr Adamczyk, Alior's blockchain technology leader, stated:

We meet the requirements of regulatory bodies and guarantee the authenticity of documents for customers. In addition, by reducing the circulation of paper documents, we have saved the bank millions of dollars and contributed to environmental protection.

Alior's blockchain strategy director, Tomasz Sienicki, also mentioned:

Our mission is innovation, so we offer innovative solutions and hope that other banks pay attention to us and are welcome to replicate our solutions.

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