Billon, a civilised blockchain technology company and BIK, the largest credit scoring provider in CEE sign a deal. The implementation of blockchain that can touch lives of over 24 million people is here!
Today we’ve announced a partnership with wide-reaching ramifications for the world of finance, insurance and telecommunications. Billon and Credit Information Bureau (BIK) are announcing a joint partnership to work on a unique implementation of our technology that has the potential to touch more than 24 million people, and provide them with a document management system, cheaper than paper, that is suitable for all their financial, insurance and medical records all in one place. Imagine a world where individuals take back the control of their documents and over use of their identity. That world might not be too far away…
Over the years BIK has gathered over 140 million credit histories cross different sectors that will benefit from superior security, integrity, and immutability. This revolution will also change the paradigm in the financial and insurance world - now consumers will command the visibility and integrity of their insurance claims, numerous bank and loan documents all through retirement plans using our blockchain technology. With Billon, you will also be able to clearly see when and what changes have been made to documents, giving consumers the capability to challenge and provide counter terms if required; all tracked on the blockchain.
The ability to retain the integrity of this data is also compliant with a number of EU regulations and directives, such as GDPR and the latest MIFID II and IDD directives.
Our partnership with BIK is the tip of the iceberg. Billon has the potential to bring this level of document and privacy control and validation to people all around the world. With scalability tests proving that Billon has the ability to process 5 million document publications a day on its blockchain, amounting to 41 trillion bytes of data, we’re truly bringing the power of irrefutability to consumers!