The Arkada Bank, INDUSTRIAL INNOVATION GROUP, VTI, Polly-Service are launching the first Ukrainian blockchain database as per “Know Your Customer” (KYC) procedure as well as OdIn (the measurement unit of investment object) as the foundation platforms for the Electronic Ukraine.

Strategy Concept of Electronic Ukraine

Kyiv, Ukraine, September 2019.

The Arkada Bank, founded in 1993 with the 26-year unrivaled experience as the leading financial structure of Ukraine, jointly with the world leader in the domain of scalable identification solutions, biometric systems and professional services for governments and citizens, INDUSTRIAL INNOVATION GROUP, the VTI company with the 47-year experience in developing government projects on creating security electronic identification documents and maintaining global database systems for national projects, the Polly-Service Company with 20-year experience in production and personalization of identification documents and payment cards, announced today the creation of a financial and industrial alliance with the aim to launch the first regional product - a platform for exchanging KYC data based on the blockchain and on the OdIn token as a unit of measurement of investment object with the goal of creating the global platform Electronic Ukraine.

In accordance with the 2019 Blockchain Strategy, the Alliance signed a memorandum of understanding with a strategic intent to build the first market platform to serve as the basis for creating customer comfort in the banking sector and as the main platform for creating the Unified Demographic Register of individuals of Ukraine, as well as for creating unique opportunities for using functionalities of investment funds in construction and for corresponding measurements of objects of investment.

Such lead market initiative promotes faster and safer customer identification and exchange of related documentation through introduction of advanced technologies, including blockchain.

The program also emphasizes the pooling of KYC's capabilities of the participating banks, government agencies, financial institutions, as well as of other licensed platform participants.

Within the framework of the agreement, the Alliance identified the optimal business concepts and technical structure to account for all the requirements of registered companies, financial institutions and the control authorities. The Alliance presented the evidence of viability of the concept with intended positive impact on such an ecosystem.

As a result, the VTI’s 47 year-experience in creating and processing large databases will become an initial opportunity for Ukraine to provide secure, client-controlled data exchange under the KYC identification procedures for platform users - initially for Arcada Bank and INDUSTRIAL INNOVATION GROUP.

As of today, the Alliance is ready to provide the Government of Ukraine with the Strategic Concept of the Electronic Ukraine Program and to ensure the issuance of electronic identification cards for citizens of Ukraine. The latter is to become the main platform of the Program. On the other hand, the Alliance is ready to offer the state of Ukraine, represented by the Ministry of Digital Transformation, in record time, with involvement of no foreign experts, to dramatically expand the application domains of blockchain technology.

The Alliance initiative is fully aligned with the President of Ukraine Decree No. 647/2019 “On some measures to ensure the provision of high-quality public services” and offers specific ways as to introducing the electronic public services.

The Alliance aims to create the innovative blockchain-based solutions for private sector by developing tokenization models for the Ukrainian market.

The chairman of the board of JSC Arkada, Doctor of Economics, professor Kostiantyn Vitaliovych Palyvoda, said: “The Arkada Bank was one of the first in Ukraine to offer and successfully implement the housing construction investment program for population, including long-term (up to 30 years) mortgage lending which was based on the unit of accounting OdIn[1] (as a prototype of the modern-day electronic token) as per the Law of Ukraine “On an experiment in housing construction on the basis of the holding company Kyivgorstroy” No. 1674-III dated 20/04/2000.

With the use of the unique technological capabilities and the expertise of the INDUSTRIAL INNOVATION GROUP, the broad-based introduction of OdIns into the market turnover will be further promoted and stimulated due to issuing cards and devices that contain an electronic digital signature to simplify and use OdIns safely in circulation. 

The participation of the Arkada Bank in the Alliance’s project based on modern and call-of-the-day digital technologies will do nothing but confirm the leading role of the Arkada Bank in the Ukrainian housing construction market.

“It is the international experience of the companies of the INDUSTRIAL INNOVATION GROUP in creation of state registers, electronic identification document systems and state electronic services that will allow the Alliance to create a reliable platform for processing the KYC data and to offer market the electronic identification and verification tools and tools for working with clients. The citizens are expected to benefit from dramatic simplification of red tape,” said Andrey Leonidovich Pervushin, the Director-General of VTI, the company of the INDUSTRIAL INNOVATION GROUP.

“The Polly-Service Company possesses a full range of its own technologies, know-hows and patents to produce plastic cards of any format and type, or of all international and national payment systems: Visa, Master Card, Union Pay, Prostir. This fact has been confirmed by the issuance of 220 million cards. Hence, the company is ready to produce the electronic multi-application OdIn cards in the shortest possible time-frame,” said Igor Nikolayevich Popovich, the President of Polly-Service, the company of the INDUSTRIAL INNOVATION GROUP.

“The Polly-Service Company is the only company in the world that its owns multi-faceted personalization bureau to process both the identification documents and the financial application cards certified by Visa, Master Card, Union Pay and Prostir.  Polly-Service can offer the Alliance project the outsourcing of personalization services for the multi-application OdIn cards”, Natalya Stepanovna Kochubey, the Chairman of the Board of Directors of the Polly-Service Company, added.  

  • Joint-Stock Company JSCB ARKADA (Ukraine) is a recognized market expert in banking and investment services for citizens of Ukraine.


The ARKADA Bank is a Ukrainian commercial bank, successfully operating since 1993, provides banking services to individuals and legal entities. It has proven to be a stable bank with a long-term investment-level credit rating ua.BBB with the rating outlook of “stable” on the National Rating Scale. Throughtout 2011–2018, the Bank repeatedly gained the victory in the nomination “Financial partner of construction market” of the all-Ukrainian Construction Market prize IBuild Ukraine, which is held by the Confederation of Builders of Ukraine.

  • The INDUSTRIAL INNOVATION GROUP LLC (UAE) is the world’s leader in the area of security printing, biometric systems and global systems for national and corporate entities.


The INDUSTRIAL INNOVATION GROUP is the world’s only full-cycle scientific and production association, headquartered in the United Arab Emirates, that provides for the manufacture of electronic polymer- and paper-based identification documents in a single production process chain. The INDUSTRIAL INNOVATION GROUP possesses 397 objects of intellectual property and has at its hands unique technologies in biometrics, issuance of high-security documents, information systems, lasers, polycarbonate, unique demetalized holograms (personalized with the use of the I-Met technology), contact- and contactless chips. The INDUSTRIAL INNOVATION GROUP provides integrated solutions for accounting for and control of excise stamps, preventing counterfeiting and falsification of goods and documents.

  • Private Joint-Stock Company VTI (Ukraine) is a reliable provider and supplier of and an expert in scalable identification solutions, biometric systems and professional services for governments and citizens.


The VTI company was founded in 1972 and quickly became one of the leading suppliers of the newest large-scale solutions for data and identity management. VTI’s solutions range from the information infrastructure of medium-sized and commercial enterprises to large nation-wide identification projects. VTI’s expertise and experience, spanning 47 years, includes the projects with the governmental in secured electronic identification document development and supporting large-scale database systems for national projects, integrated nationwide population registers with the ability to integrate and to manage the development and deployment of multiple databases and infrastructure for the identity verification, advanced biometric information system solutions for mobile verification and for digital signature.

  • The Polly-Service Company (Ukraine) has been the flagship of the industry of design, production and personalization of identification documents and payment cards since 2000.


The Polly-Service Company has a combined expertise in the field of design, security printing and personalization of bank cards, identity documents and passports.

The company’s production facilities and personalization bureau are fully certified by the VISA, MasterCard and UnionPay international payment systems and by the Prostir national payment system. They comply with the ISO 9001 quality management and the ISO 27001 information security standards aimed at protecting information assets.

Polly-Service provides a full range of solutions, products, equipment and services pertaining to financial application cards for banks, agencies and corporations, as well as for the governments – pertaining to the issuance of passports and other identification documents. Polly-Service is also the world’s only company with the unique ability to issue dual-application cards for payments and person’s identification.

Polly-Service’s production complex and personalization bureau were designed and established exclusively by Ukrainian experts, with no involvement foreign companies, with the use of Ukrainian technologies only, which include the security design development, production and personalization of cards with implanted contact- and contactless chips and electronic passport booklets, manufacture of polycarbonate cards and passport data pages, security printing on paper and plastic, production of a number of security elements of cards and passport booklets, as well as the personalization solutions.

[1] The Laws of Ukraine "On financial and credit mechanisms and property management in housing construction and real estate operations" (No. 978-IV, dated 06/19/2003) and "On the experiment in housing construction on the basis of the holding company "Kievgorstroy"" (No. 1674-III, dated 20/04/2000) determine the possibility of using OdIn one as an “indexed conventional unit of accounting, which the authorized bank determines on the basis of its own methodology, taking into consideration the inflation index, industrial producer price index, construction and installation works price index and other factors at the discretion of the bank, which impact the value of the mortgage liabilities, and also introduce the concept of the Measurement Unit of Investment Object as a measurement unit of the investment object as per the rules of the Construction Financing Fund.