Polish Credit Office to set Blockchain Resolve

The Polish BIK, collaborating  with Distributed Ledger Technology (DLT) provider Billon, is to adopt blockchain for storage and security of customer information
16 May 2018   178

BIK, that is hold by domestic and foreign banks in Poland,  comprise the major banks, keeps over 140 million credit histories of more than 1 million businesses and 24 million people in Poland, providing data on the credit history of bank customers, credit unions, etc. from the whole credit market of the country.

We believe that blockchain technology will transform how the financial sector communicates sensitive data with clients. Our solution will soon be expanded to include electronic delivery with active confirmation and remote signing of online agreements. It is also important that the solution meets the legal requirements of a durable medium of information, as well as the requirements of the EU General Data Protection Regulation [GDPR], which comes into force this month.
Mariusz Cholewa
President, BIK

As the founder and CEO of Billon Andrzej Horoszczak claims, the resolve that Billon has developed with BIK provides the world’s first GDPR-compliant blockchain platform which can upgrade customer service processes and manage the realization of customer rights such as the “right to be forgotten.”

This solution returns control of user data back to consumers, creating a level playing field between individuals and big corporations. The benefits of this solution can have an impact beyond the financial sector, and we anticipate that it will soon be adopted by institutions across industries such as telecommunications, insurance and utilities.
Andrzej Horoszczak
Founder, CEO, Billon

The used for the BIK project DLT solution will place every document in accessible, long-term storage, independent of the status of the contractual relationship status between the service provider and the user. Patents have been registered and the technology is ready to be accepted at performance levels that competes with the  traditional centralized databases.

PascalCoin to activate V3 Hard fork

PascalCoin V3 Hard fork will be activated on block 210,000 on May 31 and feature anonymity via transaction mixing and inflation reduction
26 May 2018   39

PascalCoin is preparing for V3 Hard fork scheduled for May 31. It will introduce key improvements as such:

  • anonymity transaction mixing;
  • 50% inflation reduction;
  • Lazarus/FPC gets 10% of funding

To get more into the details:

PascalCoin transactions occur between publicly visible accounts and the crucial aspect needs to be implemented - fungibility. The improvement will allow users to perform 'client-server mixing', 'network-protocol mixing', 'chaining multi-transactions', 'decentralized exchanging' and 'monetized-API mixing'.

As for Lazarus/FPC (a base tooling from which PascalCoin is founded on), a total of 10% of the Developer Rewards is recommended to be allocated for the FOSS project funding. In a long run, a large developer mind-share is expected to reduce costs significantly.

To learn more about the details of the fork, you can visit Improvement Proposal page here. And regarding the market characteristics of PascalCoin, at the moment of publication they are as follows:

Average price 0.765895 USD
Market cap 15,978,408 USD
Volume (24H) 89,861 USD