ANON Blockchain Summit 2019

ANON Blockchain Summit Austria in Vienna from 2nd till 3rd April 2019 was not only a great opportunity to connect with global blockchain experts and industry leaders, but also to share RBI’s activities with regards to blockchain technology.

Stefan Andjelic as Blockchain Hub Lead presented RBI’s use cases on KYC and digital identity: meinesichereID and Corda KYC. He publicly announced that RBI, alongside Raiffeisen Informatik and Raiffeisenlandesbank Niederösterreich-Wien, is among the founding partners of meinesichereID – an Austrian-based cross-industry identity and authentication solution based on blockchain technology. Check out the recording of his presentation:

On the one hand, the current offers regarding digital identities, mainly coming from the dominant US companies Google, Apple, Facebook and Amazon are centralized and the data sovereignty lies with the respective provider, not with the consumer or citizen, leading to data silos and vendor dependency. On the other hand, a reliable digital identity is becoming more and more important in private and business life. Therefore, the meinesichereID project aims at giving people sovereignty over their digital identities and at providing economy and institutions with an independent and secure infrastructure for their digital business processes.

As a member of R3 blockchain consortium, RBI also participated in the Corda KYC trial, together with 40 other financial institutions. It was a global trial focusing on identity profiles of corporate customers where banks were able to request access to customers’ KYC data, while customers could approve and revoke access to their data. In addition, corporate clients were also able to update their KYC information which were then automatically updated for all banks with permission to access it.

In the course of the summit, Christian Wolf, Head of Group Transformation at RBI, talked to the Austrian start-up and innovation medium der brutkasten about the importance of blockchain for banking and the reason for RBI’s presence at a blockchain summit. He discussed opportunities that the blockchain technology can bring to banks, especially in digital assets or process efficiency while not negating its potentially disruptive effect to a bank‘s intermediary position. He further highlighted RBI‘s willingness to cooperate with startups and fintechs and especially referred to RBI‘s fintech partnership program Elevator Lab. Watch the full interview here (only in German).