Alior Bank
↳ Durable medium solution developed with Ethereum public Blockchain.
First in Poland implementation of public Blockchain in a banking sector that solves a durable medium issue.
Alior Bank’s Challenge
Alior Bank, likewise all banks in European Union, is obliged to deliver to their clients’ commercial information in an imperishable and unalterable form. One of the forms was on paper by post. In the case of Alior bank, it is over a million paper letters annually.
The bank designed a solution to meet two requirements:
↳ deliver reliable Durable Medium in a form of documents visible on Blockchain ledger,
↳ become paperless and more eco-friendly.
For those reasons, Alior Bank sought a FinTech and Blockchain technology partner that will deliver integration of Ethereum Blockchain with Bank’s online service and in the long run maintain the solution
Requirements for the project and the technology partner
“Nextrope made the Blockchain service available guaranteeing the quality consistent with the quality standard contained in the contract”
Tomasz Sienicki
[ Blockchain Strategy Manager, Alior Bank ]
The Blockchain Solution
Nextrope’s team has developed and provided an online service for block-sharing of transactions from Alior Bank. It is an element of a permanent system carrier offered by the Bank. After successful integration with the Bank’s infrastructure, the service is maintained by Nextrope in the subscription model.
All the document updates are available for the public and bank customers in a public ledger based on the Ethereum network. The solution serves as a Durable Medium.
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