Blockchain will be used in Spain to identify bank clients

June 19

​​​​​​​The Niuron banking consortium announced the plans to develop the new blockchain-platform.

According to Niuron, the platform based on blockchain-technology will be created by the end of 2018, Сointelegraph writes. It is assumed that the using of the new technology for digital identification of clients will increase the speed of operations and help avoid fraud. For clients the use of the blockchain-platform means a reduction of the time required for registration and the preservation of personal data.

Information about clients will be transferred between various banks and financial institutions in Spain while simplifying the identification. The use of the blockchain meets all modern security standards and the new regulations on data protection in the EU (GDPR).

The Niuron Consortium unites the ten largest Spanish banks.

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