Categories: Blockchain

Blockchain reigns in Spain as banks prep new ID system

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The group includes CaixaBank, Abanca, Bankia, Caixa Ontinyent, Ibercaja, Kutxabank, Liberbank, Unicaja Banco, and Cecabank. Niuron claims the system will speed up operations, decreasing registration processing times, simplifying digital identification and giving clients more control over their personal information. It will also help reduce fraud and prevent money laundering.

The platform will be created to comply with the EU’s General Data Protection Regulation (GDPR), with customers’ information being shared among various banks and financial institutions.

Olivier Acuña

Olivier has been writing for over 30 years. He has been based in six countries working for major news outlets including the Guardian, UPI & AP. He has covered massive earthquakes, presidential elections, immigration, and taken photos standing in the middle of shootouts between drug cartels, gone undercover to investigate organised crime, interviewed presidents, former presidents, heads of international organisations.