Shinhan Bank, First Domestic Company to Win EBA Corporate Innovation Award
[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 18th that it became the first domestic company to win the Ecosystem Innovation Award in the Corporate Innovation category at the global Blockchain Awards (EBA).
The EBA is hosted by the Blockchain Research Institute led by Don Tapscott, author of "Blockchain Revolution," and since 2019, it has annually awarded companies, institutions, research institutes, and individuals who have led innovation and commercialization in blockchain.
Notable past awardees include IBM and Fujitsu, and this year, the companies that advanced to the final round in the Corporate Innovation category alongside Shinhan Bank were Tencent and Ernst & Young.
The Ecosystem Innovation Award, which Shinhan Bank received, is given to global companies that have contributed to the blockchain ecosystem by applying blockchain technologies such as distributed ledger, smart contracts, and digital assets to corporate operations and infrastructure.
Shinhan Bank was recognized for enhancing customer convenience and reducing employee workload by applying blockchain technology to financial services such as Dr. Loan (a loan service for medical professionals) qualification certification service, retirement pension platform, and gold bar gifting.
In particular, the bank was highly evaluated for its contributions to building and researching innovative new blockchain business models such as overseas remittances, CBDC, and digital asset custody in collaboration with blockchain consortiums and specialized companies.
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A Shinhan Bank official stated, "Due to the nature of distributed ledgers, blockchain has limitless applications in banking," adding, "Building on this EBA Corporate Innovation Award, we will promote various customer-centered blockchain businesses in line with Shinhan Financial Group's vision of 'Easier, More Comfortable, and Newer Finance' to contribute to the blockchain ecosystem."
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