South Korean bank introduces blockchain to get rid of "human error"

South Korean bank introduces blockchain to get rid of

The second largest commercial bank in South Korea, Shinhan Bank, has launched a project to introduce the blockchain into its internal processes in order to reduce the human factor leading to errors. The English edition of The Korea Times reported this on December 10.



Over the past eighteen months, the bank has sought to integrate both the blockchain and cryptocurrencies and recently a special staff training program aimed at expanding knowledge of the blockchain for various applications has been completed.



According to The Korea Times, on November 30, for the first time in South Korea, the bank introduced transactions on interest rate swaps using the blockchain.



Now, operations such as maintaining financial statements of the bank ...
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