Israel’s Bank Hapoalim joins blockchain bank guarantee platform
Blockchain is changing how banks handle debt. One of Israel’s largest banks, Bank Hapoalim, has joined a blockchain-based platform recently released by IT firm Tata Consultancy Services, or TCS.TCS’ platform, dubbed Digital Bank Guarantee, is based on the Quartz blockchain and targets the digital banking industry in Israel. The new tool will supposedly help banks more effectively manage the lifecycle of bank guarantees including issuance, modification, termination and invocation.Bank guarantees are a financial safeguard offered by banks, in which a lender ensures the obligations of a....
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