Courts of France will use IBM's blockchain platform for business records

COINCRISPY   15 Mar, 2019   Views: 33

IBM and the National Council of Clerks (NCC) announced the successful development of a commercial blockchain solution through which commercial registry secretaries across France will share information on the legal status of blockchain companies. This is what IBM reported on its official blog this Thursday, March 14.

It is a chain of Hyperledger blocks, built by IBM, that will facilitate the work of the commercial courts that maintain the Registry of Commerce and Companies of the country. Employees may register and share regulatory information related to the difficulties of the companies. In the same way, the changes that arise in the company registered in the French territory; that is, change of corporate names; the addition of a new branch; or even the dissolution of the company.

Sophie Jonval, President of the National Council of French Employees, pointed out that this project is the result of an initiative between commercial court secretaries and IBM as an effort to "be pioneers in the adoption of innovative technologies", in addition:

"To strengthen the quality of the public service provided by the commercial justice system, dedicated to the expectations and requirements of today's multipolar and interconnected economic world."

He added that it is necessary to be pragmatic and to stay ahead of the progress of a technology such as blockchain:

"The latter represents a great potential technology for our profession and for the modernization of commercial justice tools, which reflects our state, our mission and our professional rules."

For his part, Vincent Fournier, chief manager of blockchain at IBM France, points to this initiative as the first in the justice sector in the country:

"It's a perfect example of the blockchain's role in helping regulated professions as they transform. The qualities of blockchain are ideal for this use, as they improve the business processes of employees and adapt to the ever-changing nature of their missions. "

The project has already approved several tests, involving four judicial employees and IT providers. According to the information provided, it is expected that the system will begin to be implemented in the first half of 2019.

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