as reported last saturday, NBD , the national bank of Dubai has successfully implemented blockchain technology in his check systems to prevent frauds
Following a successful pilot last year overseen by Emirates NBD Future Lab, the bank said it is now rolling out its security-enhancing technology for the benefit of customers across the UAE.
The so-called "Cheque Chain" technology is designed to provide higher authenticity of the issued checks.
Cheque Chain enables a unique Quick Response (QR) code to be printed on every leaf of newly issued cheque books. The unique code registers each cheque on the bank’s blockchain platform, ensuring that once the cheque is received and cleared under the bank’s ICCS technology, bank staff can validate the cheque’s authenticity and have access to its source at all times.
