French National Council of Clerks of Commercial Courts successfully trials blockchain solution with IBM
Fri, 15 Mar 2019, 06:24 am UTC
The French National Council of Clerks (NCC), in collaboration with IBM, has successfully developed a blockchain solution for the management of the Register of Commerce and Companies (RCS) by the registries of the commercial courts.
Starting this year, the Clerks operating in commercial courts across France will use the blockchain network to enhance transparency and efficiency through improved management of legal transactions related to the lifecycle of companies.
Built on the Hyperledger Fabric framework, the blockchain solution will be used to record and share information related to the exchanges of regulatory information related to companies' difficulties, and the changes of status of the company registered on the French territory.
By sharing a single source of truth across the courts clerks, the solution will ensure transparency and traceability of notifications related to the legal changes, thereby improving the dynamic of court clerks' interactions. The initiative can help strengthen the position of the French Commercial and Corporate Registry in the European Union.
According to the official release, NCC and IBM successfully conducted the first tests which involved four court clerks and IT providers. The pilot run showed that NCC was able to reduce the time to update the registry from several days for some complex cases to a single day.
Following the successful pilot, a confirmed roadmap was developed to move gradually into full-scale production in the first half of 2019.
"This project, which is the result of an autonomous initiative between clerks of commercial courts and IBM, is the continuation of our efforts to be pioneers in the adoption of innovative technologies, 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," said Sophie Jonval, President of the National Clerks Council.
Vincent Fournier, Senior Manager Blockchain at IBM France, said that the initiative marks the first such project in the Justice sector in France.
“Blockchain's qualities are ideal for this use, improving the Clerks' business processes and adapting to the ever-changing nature of their missions,” he added.
<Copyright © TokenPost. All Rights Reserved. >