Billon Summary 2020

Learn how we succeeded in bringing our enterprise DLT system to the market in the last six months.

2020 has been so far tumultuous for the world, to say the least. The COVID-19 pandemic halted business as usual and wiped out a significant portion of the global economy, setting countries and households on a long way to recovery. The crisis can be however also an opportunity for the digital-first companies, as social distancing enforced digital acceleration in nearly all parts of life: from work to e-commerce to music festivals.

Billon as a company with digital offerings and operations is in the lucky position to weather the storm. While we are aware that the next 12-18 months will still be very difficult for the economy, we believe that with the great digital skills of our staff and our enterprise DLT technology offering, suited to the very real needs of businesses, will let us ride on top of the wave of change.

Here is a little recap of what happened in Billon during that first half of the year

• In March we closed our Series A financing, with $6M of equity being issued to existing and new investors. We are using this funding to scale existing use cases and begin preparations for opening the platform for 3rd party developers and commercial partners.

• Also in March, our subsidiary company Billon Digital Services joined the 4th edition of Startup Collider - the scaleup program for innovative tech enterprises operated by PwC Poland.

• In April, following many months of hard work and testing, our Polish partner BIK (Biuro Informacji Kredytowej) launched commercially its document management solution for the banking sector, compliant with EU durable medium regulations. First banks in Poland already use it to send out documents (T&C, pricings, etc.) to their clients, storing all information on distributed ledger.

• In May we launched a PoC with Tauron, one of the largest energy providers in Poland, exploring the possibility to send and store contracts on distributed ledger.

• Also in May, together with Raiffeisen Bank International, we announced the development of RBI Tokenization Platform, powered by Billon’s DLT. Platform pilots will cover severa; use cases like real-time tokenized money transfers. That month we also signed a contract with the Polish IT company Syneriz to implement our enterprise DLT in a solution to store high-value documents on blockchain.

• In June we received a £50K grant in the Fast Start Competition by Innovate UK to build a distributed ledger platform to store COVID-19 resilience certificates supporting employees’ safe return to the workplace. By the end of August we will provide a fully functional prototype for publishing, sharing and verifying a wide array of documents, as a back-end system for any public or private issuer of such certificates.
• Finally in August we completed a £2M investment supported by the Future Fund scheme in the UK, which will support the next phase of Billon's business development.

In 2020 we were also active in the thought leadership space, providing insight into the latest trends and challenges in commercial use of blockchain technologies. Articles published by Billon staff cover the concept of distributed digital cash and its advantage over stablecoins, the compliance of blockchain technologies with GDPR, the use case of tamper proof digital diplomas on chain and more.

As for the implications of the pandemic on our daily lives, Billon switched to 100% remote work and we will continue to work like this through the summer season. We were already quite flexible when it came to working from the office or remotely, so we adjusted to the new conditions without big difficulties. Still, this is a situation we have never encountered before and which is certainly challenging not only for Billon but for any company which must function in the new reality. With that in mind we share some tips by our co-founder and COO Robert Kałuża on how to keep productivity and projects on track despite this turbulent situation.

Let’s hope the second half of 2020 will be better and in the meantime - enjoy the holiday season!

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