(London/Warsaw, April 8, 2021 r.) Sygnity, a 900-person leader in digital transformation for 30 years in CEE, signed a cooperation agreement with Billon Group to use its open blockchain platform. The companies plan to enrich solutions offered currently by Sygnity with the Trusted Document Management (TDM) functionalities of the Unified Enterprise DLT. Under the agreement, Sygnity will gain access to a DLT platform capable of processing national currencies, documents, and any digital assets directly in the blockchain structure, and Billon and Sygnity will cooperate in acquiring customers for the solutions.
The Trusted Document Management platform developed by Billon, and funded by the EU Horizon 2020 program, enables a comprehensive, fully digital and regulatory-compliant exchange of business information based on the immutability and security of data on blockchain.
Andrzej Horoszczak, founder of Billon Group and CEO of Billon Digital Services, comments: “Sygnity joins the growing group of Billon partners who create DLT solutions ensuring tangible value for businesses. Together we will develop enterprise solutions that optimize business processes, improve enterprise management and support strategic decision-making based on data. The use of distributed ledger technology for data management enables cost reductions, ensures the highest level of security and builds trust with transparency and full integrity of stored data.”
Bogdan Zborowski, CEO of Sygnity, comments: “In the 30 years of Sygnity’s existence, we have actively contributed to the digital transformation of business and the public administration, and taken part in the largest IT projects powering the Polish economy. Our goal is to offer clients in Poland and globally the most advanced solutions that simplify processes and solve real business problems. Distributed ledger technology ensures security and trust, which are of vital importance in the era when every business process is digital. I believe that the competencies and experience of Sygnity and Billon will bring together a completely new quality of IT solutions for our current and future clients.”
Unlike other blockchain solutions, Billon’s DLT protocol does not store only hash sums, but entire documents on-chain. This is opposed to architectures based on Ethereum or similar protocols which typically store documents off-chain with the full cost of back-up, effectively failing to eliminate the legacy systems that DLT is intended to eliminate.. During publication, data is decomposed and dispersed across blockchain nodes, which effectively prevents unauthorized removal or modification.
Billon's system is an encrypted and distributed database for storing and sharing high-value documents, such as contracts, certificates or diplomas, guaranteeing their authenticity and preventing fraud. It also enables trusted remote document signing and delivery, which can support remote submission of documents such as declarations of intent or conclusion of contracts in full compliance with national and EU regulations.
Billon partners with the Polish Credit Information Bureau BIK, which incorporated its DLT system in the BIK Blockchain Platform, a cross-industry solution for digital document management and distribution. Companies and institutions that use Billon's blockchain to store and publish documents include Tauron, Syneriz, the Polish Section of IEEE and the Kielce University of Technology. Billon Group is also working with its UK partners on solutions for on-chain storage of documents helping to get back to normal after the COVID pandemic - Verified Vaccination Certificates and Ready-to-Work Platform.
Sygnity SA, as one of the first IT companies listed on the Warsaw Stock Exchange, has actively participated in the digital transformation of the Polish economy and public administration since 1991. The company provides IT solutions for the largest companies and the most important public administration institutions.
The main scope of activity is the production, implementation and servicing of software, application integration and IT consulting. Sygnity addresses its services and products to such market segments as: industry, energy, utilities, retail, banking, insurance, capital market, and central and local public administration.
Sygnity SA employs over 900 experts in 13 specialized teams, conducts over 400 current projects in Poland and Europe, and cooperates with global technology suppliers such as IBM, Oracle, Dell Technologies, RedHat, UIPath, VMware, Cisco and Cloud National.
For more information, visit www.sygnity.pl.
Billon created a DLT protocol and system for national currency payments and document storage at scale, meeting all regulatory requirements and solving challenges for the wide adoption of blockchain technologies. With the protocol designed for high throughput and low cost of maintenance, our mission is to unleash the transformational capabilities of blockchain in the regulated world.
Billon provides client services for handling documents and regulated e-money on blockchain. The system also supports clients developing their own enterprise solutions in areas of Trusted Document Management, Regulated Digital Cash and Asset & Data Tokenization
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 subsidiary companies are licensed to issue electronic money by regulators in the UK and Poland.
Billon’s growing partner list includes leading companies such as FIS, Raiffeisen Bank International and BIK (the Polish credit reporting agency). Billon has offices in London and Warsaw.
For more information, visit www.billongroup.com. Follow Billon Group on LinkedIn & Twitter & Facebook.