Hyper Ledger: France uses Blockchain technology from IBM for the commercial register

the IBM and the French Association of the Registrar of the commercial court ( CNGTC ) have announced the successful development of a Blockchain-based solution for commercial courts. The platform, the Framework is based on the Hyper Ledger Fabric, to ensure greater transparency and efficiency. In addition, they should offer better services to companies.

Brigitte Bernhardt
18. March 2019BTC$3.976,35 -0.51%part Facebook Twitter LinkedIn xing mail

Hyper Ledger Fabric is an Open-Source project of the Linux Foundation. It is constructed so that it is possible to equip this organization with all kinds of Blockchain-based solutions. A fundamental principle of the Blockchain idea is to document transaction histories – is unchanging and traceable. A decentralized register, such as register of companies, represents an ideal Use Case.

decentralised data management with Blockchain

One of the core tasks of the clerks of commercial courts is the maintenance of the commercial and company register, containing the legal and economic information to all companies. Updates are needed, often several regions affected. Therefore, the coordination between the various local registries have a key role.

The court clerk to get with the help of the Blockchain network is an efficient way to record information and to pass it on. This includes changes in status of companies on French territory, such as the Change of the company name or the judicial branch. Further applications to Add a new branch or the dissolution of the company. Is affected also by the exchange of regulatory information in the event of difficulties of a company.

Blockchain for professions in transition

In the framework of the action, the managers carried out the first Tests with four court employees and IT vendors. The Association wants to eventually go in the first half of the year 2019 in a phased manner in the serial production.

Vincent Fournier, Senior Manager of the Blockchain at IBM France, said in the press release:

This Initiative is a Premiere in the justice sector in France and a perfect example of the role of the Blockchain in the support of regulated professions, which are in a state of change.

The Blockchain network ensures the traceability of notifications in connection with the legal Changes. It should create transparency and inter-actions of court employees improve, the statement said. So, this Initiative can contribute to the strengthening of the Position of the French trade and company register in the European Union, where the profession is already in the networking of business registers is involved.

IBM is also working in other areas, Blockchain applications. We already reported on the use in science and in the automotive industry.

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