Pakistan Banking Association To Create Blockchain-Based System To Exchange Bank Data

The project will be implemented by the PBA in collaboration with Avanza Group and overseen by the PBA under the guidance of the State Bank of Pakistan.

According to the plan, this project aims to increase the efficiency of commercial banks by improving the quality of customer service, including account opening.

The implementation of blockchain technology in this initiative will help banks share data more efficiently through a decentralized and self-regulating network. All participating banks will be able to use the platform to evaluate existing and new customers based on data stored securely on the blockchain.