KEB Hana Bank has concluded a business agreement on joint blockchain research with Korea University.
The agreement, signed Friday, envisions conducting join research on blockchain technology, sharing blockchain-based data and contents, developing goods and services using blockchain and operating programs to nurture blockchain professionals and startup incubation centers.
KEB Hana Bank will introduce blockchain technology to the “issuance of student ID cards” as its first project under the agreement. So far, the issuance of student ID cards has been complicated as the bank had to have students’ handwritten school register information verified. But if blockchain-based distributed ledger technology is used, KEB Hana Bank and Korea University will be able to share students’ school register information and verify the information automatically. Korea University plans to carry out extensive studies and research across industry through its blockchain research unit consisting of various school departments.
Han Jun-seong, deputy president in charge of KEB Hana Bank’s Future Finance Group, said, “We will exploit blockchain technology more actively to develop more convenient and innovative financial services. We will provide differentiated services by securing solutions optimized for finance through our synergy of industry-university cooperation with Korea University.” He went on to say, “This cooperation will help reduce workload and shorten issuance period dramatically. We expect to see a banking system in which documentation is simplified and paperless service is possible through the expansion of units taking part in the blockchain-based distributed ledger platform.” /firstname.lastname@example.org
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