Thai banking firm KBank will begin to digitize the contract with the chain at 2018

nnnAs one of Thailand’s largest commercial banks, one of the largest providers of securities issuance guarantees, Thai Thai Farmers’ Bank plans to use the super-books of the fabric software, in the block chain platform to open a letter to replace the existing paper process , And the specific implementation of the scale and steps to do a clear plan. And the program has been tested in cooperation with the Thai central bank sandbox project.n
nnTranslation: Annie_Xun
nOne of Thailand’s largest commercial banks wants to digitize some financial contracts with a new block-chain solution that IBM is involved in.n
nBank of Thailand (KBank, Kasikorn Bank) said it would like to eliminate the bank is usually used to ensure the delivery of paper security paper, using a fully digital format.n
nOf course, the process will not be completed overnight. KBank said the plan was completed by the end of next year, 35% of these contracts completed digital. KBank said that in accordance with this scale, is expected in the corresponding period of time to open a $ 9 billion guarantee.n
nOf which 5% will be implemented on the block chain platform, using Hyperledger (super books) of the fabric software. Future KBank wants to find a partner who is willing to adopt the platform.n
nKBank governor Pipit Aneaknithi explained:n
nn”Block chain technology is used to create high-security file archiving and retrieval networks. As the largest guarantee issuer in Thailand, KBank works with IBM to deploy this innovative technology to further establish and demonstrate our leadership in the market.”n
nnAs part of the Thai central bank’s regulatory sandbox (the framework for testing new financial technology under restrictive conditions), has been tested jointly with the Bank of Thailand.n
nPreviously reported that KBank has begun working with IBM to develop a block-chain solution for document authenticity validation.n

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