BankBlock is a blockchain-fused platform that emphasizes data security and efficiency for the banking industry. Although e-contracts might be more efficient, the Bank system still relies heavily on physical signatures and contracts for compliance. A paper contract has obvious shortcomings: manual input inefficiency or error; high transportation cost or even transportation failure; risk of loss/ damage of paper document on improper handling. However, BankBlock will revolutionize contract settlement through blockchain technology: immutability, traceability, and security.
We vision BankBlock to be of great use in intra-bank and inter-bank systems. In the intra-bank system, BankBlock could speed up data acquisition in a timely and accurate matter. With access permission and a track record, different portals within the banking ecosystem could access up-to-date versions of said data on the blockchain. Besides, every alteration would be transparent to relevant parties with specific access permission. In the inter-bank system, BankBlock could serve as a decentralized, trustless domain for different parties. Therefore, contract handling default will be minimized as this system could drastically reduce lower manual/ repetitive input and handling.
BankBlock 是一個為求加強銀行業的數據安全和效率的區塊鏈平臺。縱觀全球的銀行系統仍然依賴實體簽名和紙本合約。可是，紙本合約有明顯的缺陷：人手輸入的效率不障甚或錯誤；運輸成本及風險高如處理不當的紙本文件有丟失／損壞的風險。但是，BankBlock 將通過區塊鏈技術的不可篡改性、可追溯性和安全性徹底改變合約處理。