The enterprise DLT provider knows how to curb the trade in fake vaccination certificates. Its vision has now gained support from a British government agency.
This is the English version of the article published initially in the "Puls Biznesu" daily newspaper in Poland. Read the Polish version HERE.
The coronavirus pandemic and the accompanying chaos create a huge field for abuse. Billon wants to disarm this ticking bomb by creating the platform to store and share immutable certificates proving the COVID-19 vaccination. The platform has been funded with grants from Innovate UK, British government agency.
In June last year, Billon won 50,000. GBP to build a prototype of the platform. This grant was supplemented in November by additional 330,000. GBP, shared with another UK company, The Gekko Group. In this partnership Billon is building the back-end, while The Gekko Group is focusing on the front end of the platform which can be used by healthcare, businesses and government administration. The platform will launch in the second quarter of 2021.
Wojtek Kostrzewa, CEO of Billon Group, comments: “We want people to return to normal as soon as possible. Having reliable and safe certificates proving vaccination, they will be able to move freely in currently restricted places such as offices or airports. Our solution guarantees the security of personal data and the authenticity of such documents”.
The decentralized blockchain database will store encrypted documents confirming coronavirus vaccination, as well as medical training and work certificates. Their owners will be able to present them via a QR code on a mobile app when boarding an airplane, visiting a restaurant or coming to a hospital. In result they will be able to return to work safely, and their employers will be sure they are healthy or have undergone appropriate training or tests.
“Soon after the outbreak of the pandemic, the trade in certificates confirming a negative test result began. The temptation to obtain such a certificate - and to be able to move freely - will grow with the mass roll-out of vaccinations. The need for a solution guaranteeing authenticity and immutability of those documents is very high and could greatly facilitate business travels, frozen by the pandemic”, explains Wojciech Kostrzewa.
Billon built a platform for securing COVID-19 documents on a basis on the previous project - a solution for blockchain storage and authentication of academic diplomas, deployed at the turn of 2019 and 2020.
“We do not know for how long the vaccine will keep us immune to the virus after vaccination. Perhaps vaccinations will have to be repeated every year. Verification of the certificates confirming our immunity will be thus very important, and can be achieved with blockchain authenticating documents stored in its structure. This solution will be invaluable in the fight against the invisible enemy that is bleeding out the economy”, comments Billon's CEO.
Billon, established by the Polish blockchain guru Andrzej Horoszczak, has been operating since 2015. The company created a DLT protocol and system specifically for tokenizing and transacting national currencies in the form of digital cash and processing sensitive data in compliance with regulations. Billon’s growing client list includes companies such as FIS, Raiffeisen Bank International and BIK (the Polish credit reporting agency). So far, Billon raised 16 million USD, including a 6-million Series A, which concluded in March 2020. The company is preparing for round B, which can start in the second half of the year.
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