Today the Korean Times reported that South Korea-based KEB Hana Bank, founded in 1967, has joined Hyperledger and Enterprise Ethereum Alliance consortia that promote research and development of distributed financial ledgers through blockchain technology.

The two are eminent gatherings with in excess of 200 members both from the finance and technology segments, including IBM, Intel, JP Chase Morgan, and BBVA. Moreover, in April 2016, KEB Hana joined another blockchain consortium, R3 CEV, headed by R3, a U.S. blockchain software company.

According to KEB Hana Bank, it is the first time for a local bank to join all three notable global blockchain groups.

KEB Hana to Launch Digital Platform in 2019

Joining such consortia is just another step to launching its Global Loyalty Network (GLN) digital platform in 2019, the KEB Hana bank said. GLN is set to enable customers to make digital transactions globally through the decentralized and distributed system using blockchain technology and other DLT solutions:

“With partnerships with Hyperledger and Enterprise Ethereum Alliance, the bank will be able to find new business opportunities through the GLN platform and blockchain.”

said Han Jun-Seong, vice president of KEB Hana Bank, in a press statement.

KEB Hana Bank is a member of the Hana Financial Group family of companies with global consolidated assets of more than $270 billion. Bank consists of a network of 134 foreign branches in 24 countries, mainly in Europe, the Middle-East, the Americas, and in particular in the Asia-Pacific region.

Strive for Global Interoperability

The Ethereum Enterprise Alliance is a member-led industry organization whose objective is to drive the use of Ethereum blockchain technology as an open-standard to empower ALL enterprises. The members of the Alliance are thought leaders from around the globe with a shared vision to create enterprise-ready solutions.

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