While financial institutions still maintain the preconceived notion of cryptocurrency as a threat to their existence, the mass adoption of cryptocurrency and blockchain technology can no longer be ignored. With 2019 witnessing a surge in token offerings and the participation of a large number of non-financial players, some banking organizations have started to provide crypto/blockchain-based services as a primary differentiator.





In a recent development, the Polish banking giant Alior announced a new service offering aimed at allowing customers to maintain and tally immutable official records. According to the report, the banking company took the bold step of leveraging a public Ethereum blockchain for document authentication, which contradicts the traditional bank’s notion of maintaining private ledgers.





Alior’s Blockchain Strategy Lead, Tomasz Sienicki, commented,





“Our mission is to be disruptive, so we want to provide innovative solutions, and we want other banks to follow us as well. We welcome if somebody copied our solution. We are showing that it’s possible to use public blockchain even if some people think it’s impossible.”

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