BCA Claims To Have Applied Blockchain Technology
Currently used for "back office", making transaction easier to reduce operational cost
BCA claims to have applied blockchain technology in its operational activities. However, this technology have only been used to fasten payment transaction, reduce complexity, especially in back office. This technology is claimed to reduce operational cost, particularly in building an app.
"We have currently working on blockchain. It must be done to make the preparation for application program faster," explained Jahja Setiaatmadja, BCA's President Director quoted from Warta Ekonomi.
Related to a special investment in blockchain, Jahja claims the company does not alocate that kind of investment. He claimed, the cost is not really expensive.
"Blockchain is not pricey. [Blockchain] is going rapid. Like building a complex, should not be per pieces, but [must] be in block. They working on a whole thing."
Aside from BCA, other banking institutes working on this blockchain technology are Bank Mandiri, BNI, BRI, Bank Danamon and Bank Permata Those five banks are partnered up with IBM technology for the implementation.
Blockchain is an online global data-based system containing groups of transaction data. It will record all users' transaction data , as a ledger in bank.
– Original article is in Indonesian, translated by Kristin Siagian