Skip to main content

Billon secures EU funding for blockchain document management system



While there are many countries around the world that are cracking down on cryptocurrency markets or wary about how to embrace and regulate them, there are other companies that are receiving support from the government due to the shifting attitudes on the potential of blockchain technology. Recently, Billon Group was awarded over $2.1 million by the European Union (EU) to develop a blockchain-based document management system.

The money comes specifically from the European Commission's SME instrument program, which is part of a larger overall Horizon 2020 program. Horizon 2020 describes itself as the "biggest EU Research and Innovation program" ever. A total of 64 organizations were awarded in this particular phase of the program, including other blockchain-related companies such as Settlemint, a blockchain software company, and KYC (Know-Your-Customer) service AUTHENTEQ.

Billon will not only be digitizing paper documents, but encrypting them, as well. The idea is to increase transparency in efficiency with respect to document storage and management by placing these documents on a distributed ledger. This can reduce cost for a variety of organizations and corporations by as much as 50%, according to the Billon Group. The solution will also be compliant with the General Data Protection Regulation (GDPR), as well as other EU regulations. The GDPR is a regulation adopted in 2016 that relates to overall data regulation and personal privacy that applies to all EU member states.

The company has already been adopted by the Polish Credit Office (BIK), which increases efficiency with respect to the Polish banking sector. The CEO of Billon Group, Wojtek Kostrzewa, pointed out how the company is working on disrupting the document management sector. He states: "Today's document management industry has struggled with fulfilling regulatory and customer requirements related to protecting document identity content, and to provide customers with control over data they choose to share or delete. With the funding from Horizon 2020, Billon will fulfill MIFiD2 and GDPR requirements with innovation that puts a customer in control of their own data and documents."

Comments

Post a Comment

Popular posts from this blog

What is TogaCoin?

TogaCoin is here to stay for a long time because this token sale is not only about cryptocurrencies but also about other important areas of the world economy. Yes, you heard it right and we will be telling you more interesting things about this token sale right away. Unique Selling Points You will be paid during the token sale. Yes, it is true and you should think about it right away. In fact, you could end up earning up to 20% of the invested money per month. Really? Yes, it is true and you should be happy with it. Explainer video Features These guys have a lot of experience in the world of IT and they will shine with this token sale. TogaCoin's staff will work on the important field of cryptocurrency mining and even in data management. These are amazing fields that could generate a lot of money down the road. Technical Analysis Well, TogaCoin will work hard to make money via these activities: -0Electricity is a very important part of the world econom...
Post a Comment
Read more

The Bitquence Liquidity Network

CryptoCurrency is gaining popularity, however with Bitcoin very user-unfriendly mass adoption is not coming. The Bitquence Platform is aiming to replace Bitcoin with it's many disadvantages with something better. A currency for the people. More and better usability, A wallet which is universal and support several coins, like Bitcoin but also Dash and Ethereum. Please read along to get the latest information about this project which can grow very large. Collection of abnormal pockets programs, With automated sources that oversee a large number of wallets for each and every of your financial paperwork making it exhausting to do. International Cryptocurrencies lately stay on experiencing an especially noteworthy increment, impulsively reaching colossal valuations. The have an effect on at the present economic system modified the psyches of people to take after enhancements within the time of Cryptocurrency. Virtual kinds of cash and blockchain innovation are lat...
Post a Comment
Read more

GrantShares DAO launching to support ecosystem growth and grassroots initiatives

The GrantShares DAO is launching on Neo N3 to distribute funding to grassroots developers and ecosystem beneficial projects. The DAO will manage an initial treasury funded by the Neo Foundation. As the first DAO to launch on Neo N3, GrantShares is designed to provide financial support to smaller initiatives that do not currently fit the scope of Neo's existing grant programs. Voting members of the organization include COZ, AxLabs, Red4Sec, NGD Enterprise, NeoResearch, NEXT, Neo SPCC, Neo Foundation, Neo Global Development, and Neo News Today. Anyone is encouraged to submit a proposal for the members of the DAO to discuss and vote. The initial funding limit for GrantShares is $50,000 per proposal, and can be used to fund local events, dApps, developer tools, education initiatives, and more. Projects seeking larger amounts should apply for grants through one of Neo's Eco Support tracks. The DAO's smart contracts are developed and maintained by AxLabs and have already been dep...
Post a Comment
Read more