IBM Hyperledger Blockchain Starts Nationwide Deal With France's National Council of Clerks (NCC)

IBM, one of the largest technology companies in the world, has recently scored a big win in France. Court clerks from all over the country will soon start to use the Hyperledger blockchain technology created by the company in order to change the legal recording system of their companies.

This will happen after IBM has struck a deal with the National Council of Clerks in France. At the moment of this report, IBM has already started the tests with a handful of court clerks in the country and the system is being tweaked in order to go full-scale during the first half of 2019.

The goal of the new partnership is to allow the clerks from commercial French courts who maintain the country’s Register of Commerce and Companies to upgrade the speed and the efficiency of the services that they provide.

According to the official reports, the clerks will be able to use the brand new blockchain system to share important information about their offices. For instance, they will be able to share regulatory information about difficulties that companies have, the changes in their legal status, name, new offices, and similar occasions.

Before the usage of the blockchain, the main difficulty was to keep all the records compatible and without any kind of incoherence between them. For instance, if information needed to be updated, this could involve several offices that had to coordinate their work to be able to do their jobs.

IBM has divulged that an update to a registry took a single day during the pilot testing. If this does not seem fast to you is because you are not aware that the process used to take several days before.

By using the new technology, the whole process is considerably faster and there is an upgrade in transparency, as well, as the records are easier to visualize. IBM has told the media that the partnership could help the French Commercial and Corporate Registry to become a technological leader in the country.

The press release affirms that this initiative will be very important for the justice sector of the country and that it will work as an example of how the blockchain can lead to a transformation in the sector.

The senior manager for blockchain at IBM France, Vincent Fournier, has affirmed that the blockchain has the ideal qualities to be used in this context and that it will provide clerks will more tools to do their work in a world that is always changing.

Sophie Jonval, president of the clerk association, has affirmed that the project will help to interconnect the offices and that they need to be pragmatic in order to modernize the profession.

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Gabriel Machado
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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