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Here is! The road test was a success. The adoption at the system scale begins.
The National Council of French Clerks (CNN) announced that it had completed field testing a blockchain – based solution and that it was ready to roll from one country to the next. other. The NCC represents clerks of the Trade and Companies Registry in 134 offices across the country. These offices should support each other to share information as they arrive and make updates when a business lifecycle event warrants it.
The organization had previously decided to modernize and install new information technologies that would produce what is often called "the single version of the truth". In other words, the official documents accurately reflect the updated data that has been recorded for a company, for example in Lyon. These records follow enlargement, relocation, dissolution, etc. from a company. Coordination between offices across the country has been a challenge up until now.
The initial objectives of the program involved shorter cycle times as well as the accuracy of the data. Fortunately, in a pilot project, the NCC was able to reduce the multi-day registry update time for some complex single-day cases. NCC President Sophie Jonval explained:
"This project, the result of a stand-alone initiative between court clerks of commercial courts and IBM, is a continuation of our efforts to be pioneers in the adoption of innovative technologies, in order to strengthen the quality of public service provided by the commercial justice system., dedicated to the expectations and requirements of the multipolar and interconnected economic world of today.
IBM served as a technology partner, bringing its blockchain and cryptography expertise to build the platform. The NCC solution runs on Hyperledger Fabric, an open source Linux Foundation project.
Among other things, the blockchain-based solution will be used to record and share information related to the exchange of regulatory information on business challenges as well as changes to their status.
The NCC expects the solution to be fully deployed in the first half of this year. The NCC also stated that a new system would ensure transparency and improve the dynamics of clerk interactions.
In addition, this announcement will help "strengthen the position of the French register of trade and companies in the European Union, in which the profession is already engaged in the interconnection of business registers".
It is encouraging to see groundbreaking innovations impose on the front lines of a large organization. Let's hope that success in France will inspire similar experiences across Europe.
Mary Driscoll covers financial and business trends as a writer for ETHNews. She was previously a management and finance writer at the Economist Intelligence Unit and research director at APQC. In addition, she has written for Wall Street Journal's CFO Report, HBR-online, and Strategy + Business. Her book on corporate cash management was published by John Wiley & Sons, Inc. Mary enjoys hiking and skiing in the Sierras with her family. His goal in life is to win big on Jeopardy.
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