So, here we go. 39 financial companies in the partnership with blockchain consortium R3 have completed more than 300 transactions through the KYC (Know your customer) application. The project involved major institutions around the world, including the Deutsche Bank, the National Bank of Egypt, Raiffeisen Bank and a number of leading banks of the USA.
The test was run on all continents in 9 different time zones, and the banks could request the customer data, and the client could grant the access or not. The target of the project was to combine the industry and the technology and to check if such systems can be viable in future.