Irish banks pilot blockchain for professional credentials
AIB, Bank of Ireland and Ulster Bank are piloting a blockchain platform to track and manage employee education and regulatory qualifications.
Employees will be issued with a digital wallet containing all their professional qualifications, which can be shared among competent authorities on a permissioned ledger for verification purposes.
Colin Hunt, CEO of AIB remarks: “The largest value in a blockchain solution is derived from using the network and achieving this through an industry platform is very attractive. This is a great story for banking innovation in Ireland but also to enable our employees and those in the sector to progress their career aspirations and ambitions.”
The project emerged from a Bank of Ireland innovation programme. It taps an ethereum blockchain built by Deloitte’s Emea blockchain lab
The pilot phase is expected to be completed in the late summer, with the roll out of the system to the IoB’s 23,500 members expected by summer 2020.
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