Project description
Going paperless with blockchain contracts
For security reasons, most banks, insurance companies, utilities and tax offices continue to print and archive every contract. Via blockchain technology, the B4TDM project could make the transition to a paperless office possible. Billon, the company behind the project, is a game-changer. It is developing a solution based on a proprietary next generation distributed ledger technology (DLT) architecture that ensures the integrity and security of data in mass scale implementation, ensuring full compliancy with legal regulations. Its unique solution for management of contractual relationships – with active delivery and digital signature – is expected to lower operational costs and boost document security and privacy.
Objective
The era of paper, a technology invented more than 2, 000 years ago, has not finished dying yet for organizations such as banks, insurers, telco operators and utility providers. Most of them (over 80%) still use paper in their contractual relationships with millions of their clients. Organizations are not only struggling to meet often contradictory requirements of the EC regulations of “durable medium” and “the right to be forgotten”, they are also facing a dilemma of choosing IT solutions which only partially address their needs in publication of standardized (e.g. new regulations) and private documents (e.g. loan agreements), digital signatory and KYC (Know Your Customer) procedures. Answering those challenges, Billon developed a revolutionary end-to-end solution based on blockchain that can provide organizations with highly awaited, fully configurable functionalities such as: document publication, active delivery, digital signing, as well as digital identity management based on immutable data storage and fast retrieval. Billon’s solution is based upon a proprietary next generation Distributed Ledger Technology (DLT) architecture which ensures the integrity and security of data in mass scale implementation ensuring full compliancy with legal regulations. Neither currently available IT solutions such WORM (Write Once Read Many) based platforms nor other IT systems, including those based on blockchain are able to meet the need. Billon’s unique solution for management of contractual relationships which addresses the market segment worth €1.6Bn p.a. of the worldwide market which grows at a CAGR of 81.2%. Upon complementing our solution with active delivery, digital signature and digital identify management, all made with the blockchain, Billon has the potential to seriously decrease operational costs and also bring the unprecedented level of document and privacy control, and validation to people all around the world giving them back control over their personal data.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-2 - SME instrument phase 2
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
00-867 WARSAW
Poland
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.