KEB Hana Bank appears to be ahead of competitors in doing blockchain-based banking business.

It is now commercializing its 47 patented blockchain technologies. The bank said the success of blockchain-based banking is not the technology itself, but the development of business models.

The bank has partnered with global banks to search for business opportunities through blockchain technologies.

Last year, its parent company Hana Financial Group declared 2018 as the starting year for digital banking. It seeks to transform itself into a customer-centered Big Data company.