The Crypto Times
Image default
Blockchain News

Courts in France to Revolutionize Corporate Registry With IBM Blockchain Platform

The clerks of a French commercial court will take advantage of a blockchain-based platform in order to monitor and record various changes in the legal status of companies within the whole of France. The French court authorities officially announced this on March 14.

Blockchain Network Solution

The solution to the problem of lack of organization is an extensive recording and sharing of data that is related to regulatory information exchanges brought about by a particular company’s difficulties. What will be monitored includes the changes in a company status based on its registry in France. In short, the blockchain network will monitor the change of corporate name, business locations, business dissolution, the establishment of branch offices, and location of the registration court office.

IBM and the National Council of Clerks (NCC) have jointly developed the blockchain network. The clerks of French commercial courts across the country will deploy the blockchain network starting 2019. The aim is to increase transparency and facilitate efficiency in all legal transactions that involve registered companies. In addition, the blockchain platform uses the Hyperledger Fabric framework.

IBM Commercial Blockchains

In fact, according to The Next Web research, IBM has already released a number of commercial blockchain products and has filed many patents. Furthermore, IBM has offered many people a great number of blockchain jobs.

This week alone, IBM formed a partnership with CULedger, a credit union service company. The goal was for the credit union industry to develop new and more efficient blockchain-based solutions. Indeed, this move can help facilitate digital identity authentication, KYC procedure, consumer processes needing authorization, as well as payment services.

Related posts

UPS Announces Merchant Supply Chain Blockchain

Viena Abdon

Western Union Teams Up With E-Wallet Coins.ph

Viena Abdon

You Can Now Send Bitcoin Tips Over Lightning on Twitter

Sierra Sanders

Investors Enjoying a Lucrative 2019 Alt Season

Viena Abdon

Ripple is a Major Employer in the San Francisco Bay Area

Viena Abdon

Craig Wright is Satoshi Nakamoto According to Wright

Sierra Sanders