Korea Shinhan Bank Introduces Qualification Verification System Based on Blockchain Technology

On May 27, South Korea’s Shinhan Bank announced that it had introduced the first system in the country to use the blockchain technology to verify the documents required for non-face-to-face loan business. The enterprise qualification verification system developed by Shinhan Bank is a system for logging in and querying OTP information through blockchain technology, enabling customers to easily confirm the qualifications and other facts of their organizations through mobile phones or computers.