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November 22, 2022
4 min read
Unified Enterprise Blockchain created by a Polish-British startup Billon to shape the evolution of the European Blockchain Services Infrastructure (EBSI).
(London/Warsaw, November 22, 2022)
The European Commission selected Billon as one of three providers of the final solution development and field testing of the EU Blockchain Pre-Commercial Procurement (PCP) process. Billon's acceptance into Phase 2B of this project confirms the business viability of the DLT concept and its validation from the market. The European Blockchain Services Infrastructure (EBSI) experts evaluated Billon Unified Enterprise DLT in the areas of scalability, sustainability, security and technological maturity against highly demanding criteria, checking the adaptation of the prototype in phase 2A for problems solving and its fulfillment of important PCP requirements.
EBSI is an effort of 29 countries and the European Commission that cooperate as a European Blockchain Partnership (EBP) to deliver an identity, document and data sharing capability on blockchain for all EBP countries. Billon was selected for phase 2B of the EU blockchain PCP to leverage its award-winning Unified Enterprise Blockchain platform to bring innovation into use cases including EU-wide IP rights management and Product life cycle management. While designing the solutions, Billon has paid special attention to qualities such as scalability to deal with high volumes of tokens, sustainability in accordance with the EU’s climate action initiatives and the European Green Deal.
The use cases leverage the unique capabilities of the Unified Enterprise Blockchain platform developed by Billon:
1. Intellectual Property Management: advancing protection with a Crowdfunding, Rights Management, Accounting & Trading Platform
Billon’s concept allows to crowdfund for the idea, and the created intellectual property to be tokenized, stored, protected, accessed and traded on an internationally participative blockchain platform.
When completed, owners, contributors and authors of IP can trace the use of their content in digital media across the EU.
Integration with digital national currency tokens will allow crowdfunding content, usage control and ownership change in the later stages of the content life cycle.
2. Product Life Cycle Management: Circular Economy Platform & Digital Product Passport
The Unified Enterprise Blockchain enables tracing and managing the life cycle of physical goods across the EU – from raw materials extraction through goods creation, logistics and storage, usage and recycling/disposal.
By creating a Digital Product Passport, Billon enables users to monitor the life cycle of common products such as plastic, textiles, electronics to reduce waste (which includes the CO2 emission during production, logistics and use).
The solution highly contributes to the EU Green Deal regulations goals.
The use cases were verified by early adoption customers proving the commercial potential of the solution. Billon achieved outstanding test results (best in class):
- over 1 trillion transactions per day
- over 220 million processed documents per day
Billon Group Founder and Chief Technology Officer Andrzej Horoszczak comments: "This project demonstrates the technological potential of data exchange and tokenization and proves the outstanding technological maturity of the blockchain created by Billon in the areas of sustainability, scalability and security. Together with EBSI architects, we demonstrated an approach to integration with the current EBSI environment.”
The work plan for stage 2B includes:
- Conducting tests in a commercial setting based on the proposed terms
- Further technological development showing Billon’s technological advantage
- Detailed integration of Unified DLT Platform with EBSI architecture (implementing plan for interoperability)
Billon Chief Executive Officer Wojtek Kostrzewa comments: ”The innovative Blockchain solution created by our team of IT specialists and engineers will shape the evolution of the European Blockchain Services Infrastructure (EBSI). The quality, technological advancement and novelty of our solution has been confirmed in the EBSI phase 2a tests. This allows us to compete with the largest players in the market.”
Billon’s enterprise DLT platform, developed in part with funding from European grants, unifies the management of three asset classes – digital cash, documents and non-cash assets – into a single, high-performance blockchain protocol. The system’s patent-pending protocol is low-cost and eco-friendly. As a permissioned network, it can manage the complexity of regulatory rules and the performance needs of enterprises. Thus, it solves many of the challenges required for wider adoption of blockchain technologies.
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Billon created the Unified Enterprise DLT System, the blockchain-based protocol and system that uniquely combines three asset classes – national currency, data, and documents – into a single, high-performance distributed ledger (DLT), meeting 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 become the backbone for all kinds of enterprise applications and 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.
Since 2018, 29 countries (All EU Member States, Norway and Liechtenstein) and the European Commission have joined forces to form the European Blockchain Partnership (EBP). They have committed to working together towards realizing the potential of blockchain-based services for the benefit of citizens, society and the economy. The Partnership is building a European Blockchain Services Infrastructure (EBSI). Their vision is to leverage blockchain to the creation of cross-border services for public administrations, citizens and businesses and their ecosystems to verify information and make services trustworthy.
Since 2020, EBSI is deploying a network of distributed blockchain nodes across Europe, supporting applications focused on selected use-cases. EBSI is the first EU-wide blockchain infrastructure, driven by the public sector, in full respect of European values and regulations.