Business documents to gain immutable security and fulfill durable medium privacy requirements through enterprise DLT platform-based Secure Document solution.
(Warsaw / London, May 25, 2020) Billon Digital Services, a fully owned subsidiary of Billon Group, signed a contract with the Polish IT company Syneriz to implement its enterprise DLT for a solution to store high-value documents on blockchain. The solution called Secure Document will store and share data in full compliance with durable medium regulations. It will be available on Syneriz RODO Comfort Platform as a part of an enterprise suite enabling the business implementation of GDPR.
Jan Korczak, CEO of Syneriz, comments: By introducing Secure Document, we meet two needs of our clients: security and authenticity of high-value documents. Documents like employment contracts and certificates can be now stored securely on blockchain. The technologically embedded authenticity and immutability of documents provides full transparency and an audit trail. We believe blockchain perfectly answers GDPR issues and creates a synergy with our platform.
Users of the RODO Comfort Platform, powered by Billon enterprise DLT, will be able to save complete high-value documents in the blockchain structure, ensuring their immutability and indisputability. Data will be encrypted with an individual cryptographic key restricting access only to authorized parties. Documents that must always be available to employees - such as work certificates - can be downloaded at any time from any place in the world and easily shared with third parties, such as prospective employers. Employers who receive documents, will have in turn technological certainty that they have not been modified in an unauthorized manner. The solution also cuts down IT costs, as keeping data on chain reduces the need to invest in a centralized IT infrastructure.
Marek Marczuk, director of business development at Billon, comments: Today it is not always possible to deliver paper documents in person. That is why storing and saving their digital versions on blockchain, with technologically embedded authenticity and ease of access, is an attractive solution for everyone who wants to quickly and simply confirm their professional qualifications. The Billon enterprise DLT technology ensures the authenticity of all kinds of high-value personal documents, such as licenses, diplomas or certificates used in education or professional training.
Blockchain as an encrypted and distributed database guarantees the authenticity of high-value documents and protects them against fraud and falsification. The potential of this technology has been recognized by some of the world’s renowned universities which issue their graduates digital copies of diplomas on blockchain. In the EU, a report commissioned by the Joint Research Center of the European Commission identifies blockchain application as one of the four most important applications of blockchain.
Billon enterprise DLT is also being used by the Polish Credit Information Bureau BIK, which implemented it in its platform allowing banks to send electronic documents to clients (while meeting the regulatory requirements of a durable medium). Recently, the Polish-British fintech announced aPoC with Tauron, testing the possibility to send and store contracts signed by Tauron’s clients and other documents on Billon’s distributed ledger. Billon cooperates with the Polish branch of Microsoft, which delivers Azure cloud infrastructure to host blockchain nodes.
Billon unleashed the transformational capabilities of blockchain, creating a high-performance distributed ledger technology (DLT) system which unifies national currency transactions, documents on-chain, and identity management. We overcame roadblocks preventing other blockchain protocols from mass business use and already have proven solutions in open banking core engines, instant incentives and loyalty solutions, micropayments, and GDPR-compliant document and privacy management. As a result, Billon is uniquely suited to help businesses in digital acceleration, digital transformation, and instant and seamless money transfers, especially following the COVID-19 pandemic and its economic consequences.
Billon Group Ltd. was founded in the UK in 2015, following several years of R&D in Poland. Its unique DLT protocol has been supported by many R&D grants, including the EU Horizon 2020 program. Billon is licensed to issue electronic money by regulators in the UK and Poland, and employs a global team of more than 80 professionals in its two offices in London and Warsaw. Billon works to implement its technology commercially with leading business partners, such as FIS, Raiffeisen Bank International and BIK (the Polish credit office).
For more information, visit www.billongroup.com.
Syneriz is a technology company operating in the IT industry for several years, implementing. comprehensive services through analysis, design and creation of tailor-made solutions tailored to the needs of clients. Its focus is business intelligence, system integration, aeb and mobile solutions.
For more information, visit www.syneriz.com.