Mar 16, 2019 12:00 UTC
Mar 25, 2019 at 09:54 UTC
NCC of France Successfully Tests Blockchain-based Solutions for the Courts
The National Council of Clerks of France recently announced that it has finally completed road-testing a blockchain technology-based solution and is fully prepared to roll throughout France.
The NCC represents clerks of the commercial as well as corporate registry in 134 offices within the country. These offices need to rely on one another for sharing information as it comes in and make updates when a business lifecycle even warrants it.
The initial goals of the program incorporated faster cycle times and data accuracy. Luckily, the NCC was able to decrease the time for updating the registry from several days for a few complex cases to a single day.
Sophie Jonval, the NCC’s president, explained –
“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.”
IBM served as a technology partner, offering its expertise in cryptography and blockchain for building the platform. The NCC solution runs on Hyperledger Fabric, which is an open-source Linux Foundation project.
Among many other things, the blockchain-powered solution will be utilized for recording as well as sharing information associated with exchanging regulatory information regarding companies’ challenges and changes in their status.
The NCC anticipates the full roll-out of the solutions will take place soon in this year. The NCC further states that a new system will make sure the transparency and enhance the dynamic of court clerks’ interactions.
According to the announcement –
“The initiative will help strengthen the position of the French Commercial and Corporate Registry in the European Union, in which the profession is already engaged with the interconnection of business registers.”
It’s great to see groundbreaking innovations taking hold at the front lines of a big organization. Expectantly, the success in France will inspire similar experimentation throughout Europe.