Commercial court clerks across France will use the IBM blockchain-based platform to record changes in the legal status of companies within the country. According to the press release, the blockchain network will be in use this year and will bring “added transparency and efficiency through improved management of legal transactions related to the lifecycle of companies”.
It will be used to record and share information related to the exchange of regulatory information related to companies’ difficulties as well as the changes of status of a company registered on French territory. The initiative will help “strengthen the position of the French Commercial and Corporate Registry in the European Union”.
The blockchain platform is built on the Hyperledger Fabric framework, an open source project from the Linux Foundation. IBM are an early member of Hyperledger. The joint project between the French National Council of Clerks (NCC), the representative entity of the clerks of the commercial courts, and IBM, has already undergone tests involving four court clerks and IT providers. The successful tests mean that a confirmed roadmap has been developed to move gradually into full scale production in the first half of 2019.
The Initiative Is A First In The Justice Sector In France
“This project, which is the result of an autonomous initiative between clerks of commercial courts and IBM, is the continuation of our efforts to be pioneers in the adoption of innovative technologies, to strengthen the quality of the public service provided by the commercial justice system, dedicated to the expectations and requirements of today’s multipolar and interconnected economic world,” said Sophie Jonval, President of the National Clerks Council.
Vincent Fournier, Senior Manager Blockchain at IBM France said: “This initiative is a first in the Justice sector in France and is a perfect example of blockchain’s role in helping regulated professions as they transform. Blockchain’s qualities are ideal for this use, improving the Clerks’ business processes and adapting to the ever-changing nature of their missions.”
Sophie Jonval added: “We must be both pragmatic and at the forefront of progress on a technology such as blockchain. The latter represents a major potential technology for our profession and for the modernization of the tools of Commercial Justice, reflecting our status, our mission and our professional rules”.
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