Court clerks in France just got an upgrade to their systems that has shaved days off the time it takes to update internal registries. The French National Council of Clerks of Commercial Courts (NCC) has deployed the IBM Hyperledger Fabric blockchain solution to streamline the management of commercial and corporate registries. On the old system, updating registries could take up to three days, but under the new blockchain system it takes a matter of hours. On top of increased speed, updates are done in real time, meaning improved communications between other clerks and greater department efficiency.
The Paris branch of the NCC was the first to pilot the project and test it out. After a very successful test period, the NCC has decided to roll it out to all courts in the country before the end of the first half of 2019. By enhancing the management of sensitive data and the speed at which it takes to update this information, the NCC is hoping this new blockchain system from IBM will help make France stand out as a leader in the European Union as a forward-thinking country for blockchain technology.
IBM Developing the Blockchain World
IBM has its fingers in virtually every blockchain pie, and it’s trying to make the blockchain world safer and easier to use for everyone. Earlier this week, IBM announced that it has created a new protocol that will make replay attacks on permissioned blockchain networks a thing of the past. If that wasn’t enough, IBM is also using blockchain technology to track underground water supplies to prevent levels falling dangerously low and causing thousands of insects and creatures to become extinct.
Tax Amendments on the Ropes in France
Towards the end of 2018, the French National Assembly put forward a series of tax reforms that would transform the French crypto tax ecosystem. However, due to a lack of knowledge and experience in the field, the bills were all shot down by the President of the French National Assembly. While these amendments were shot down in December, it’s likely that the French National Assembly will pass similar bills in a few months’ time.
This move from the NCC to use blockchain technology is huge for France and will have far reaching consequences. If integrating the whole NCC systems with the IBM blockchain is successful, there is a good chance other government departments will begin looking into using blockchain technology.