The new collaboration will make use of the financial information security know-how developed at Hapoalim along with the national-defense cyber know-how garnered by IAI. The joint research that will be carried out by the two companies will examine how blockchain can be used for developing new cybersecurity solutions, such as secure transmission of information between services and supply chains, user authentication, the protection of critical devices that run without human intervention and any other cybersecurity challenges.
Through this collaboration, Hapoalim aims to offer more secure communication for its customers, suppliers and partners, and IAI seeks to boost its experience for the cybersecurity products it develops for both military and civilian systems.
This is the second collaboration announced by Bank Hapoalim regarding the use of blockchain technology for secure banking purposes. In September 2017, the bank said it will collaborate with Microsoft to set up a platform to create digital bank guarantees based on blockchain technology.
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