Poalim Bank, IAI To Collaborate On Blockchain Technology

January 3, 2018 | Israel’s Poalim Bank and the country’s prime aerospace and aviation manufacturer Israel Aerospace Industries (IAI) announced they will team up to collaborate on using blockchain technology to create innovative cyber solutions. Joint research by the two companies will look at how blockchain, the technology behind cryptocurrencies like bitcoin, can be used to develop cybersecurity solutions such as “the secure transmission of information between services and supply chains, user authentication, critical devices, and elements that run with no human intervention and additional solutions for the cyber challenges in a hyper-connected world,” an IAI statement read. The two companies will investigate the use of blockchain for secure management and transfer of their information within their own systems and between customers/partners. IAI said it hopes to develop top-notch cybersecurity tech for military and civilian systems that are part of its cyber operations.