British FINTECH company Billon has developed a solution for the credit information Bureau (BIK), which will allow you to store and delete customer data using the technology of the distributed registry. This is stated in the press release of the company.
BIK belongs to the group of leading Polish banks and tracks around 140 million credit histories of the residents of Central and Eastern Europe. According to the President, office of Mariusz Cholewa, the blockchain will change the methods of exchange of confidential data between the financial sector and customers.
“BIK and Billon has developed a solution that meets the legal requirement for a robust information tool, as well as the requirements of the European General regulations on data protection, which comes into force this month,” said Cholewa.
It is noted that the blockchain architecture Billon as of the end of 2017 test eight Polish banks. The system is able to publish more than 150 million documents monthly.
According to a press release, Billon implements blockchain to handle Fiat currencies. Previously, the company refused to cryptocurrency in favor of means of payment “E-money”, which is regulated by European Commission Directive on electronic money, 2009.
“Our data system is the beginning of a real revolution in the management of information. It is now possible to escape from the limitations of closed centralized databases to democratic blockchain is the Internet, where each user can control their personal information and make the document more secure and confidential,” said CEO Billon Andrzej Harosak.
We will remind, in September 2017, the European Union has invested in startup The Billon Group more than €1 million.
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