Luxembourg Notary Blockchain Kickoff – A first in Europe
LUXEMBOURG – March 4, 2019 – The Luxembourg Government IT Centre has implemented a Notary system based on blockchain in view to demonstrate the benefits of this new technology. The system allows registering any kind of document, ensuring its integrity over time, and providing a time stamp for the registration. It is therefore an ideal solution for the notarisation of important documents such as audit logs. This first European Notary system based on blockchain optimizes security and collaboration of notarization processes while reducing costs. There are also other potential applications for this system in other use-cases where the guarantee of immutability of records is required.
The concept and technology have already been presented, in Luxembourg, to the EU Commission, the European Court of Auditors and representatives of 7 EU member states. The next planned step is the launch of a Member States Distributed Ledger Technology Network in order to explore and validate cross border use cases.
In order to maximize security and efficiency, a permissioned chain was used that can be operated on Infrachain certified nodes. Infrachain also provides community-driven governance, which is an essential element of any Blockchain.
As a founding member of Infrachain, Telindus, a Proximus Luxembourg brand, is proud to be at the core of the design, development and deployment of the blockchain-based Notary system. “This is only a starting point and we see many opportunities to enhance how notarization will be done in the future, to the benefit of all stakeholders. We are looking forward to being instrumental for the implementation of new and interoperable notary blockchains for Europe”, says Frank Roessig, FinTech Lead at Telindus.
Infrachain chairman Fabrice Croiseaux adds: “Member States cannot use public blockchains for reasons related to trust in, and accountability of the participants, to operational sustainability or regulatory certainty. Infrachain, through its members, provides a trusted environment for private permissioned Blockchains. We are honored to participate in the launch of a Member States Distributed Ledger Technology Network.”
About the CTIE
The Luxembourg Government IT Centre (Centre des technologies de l’information de l’Etat - CTIE) is Luxembourg’s central actor in the implementation and development of eGovernment projects. Its main mission is to support the digital transition of public administrations in order for them to take full advantage of the opportunities offered by information and communication technologies (ICT). As the IT service provider of the Luxembourg administrations, the CTIE is a shared services centre providing a toolbox from which public institutions can pick the solutions they need.
About Telindus Luxembourg
As of January 1st, 2019, Telindus is a brand of Proximus Luxembourg SA.
Founded in 1979, Telindus Luxembourg assists all businesses and organisations in their digital transformation, by providing holistic ICT & Telecommunications solutions and tailored support services.
Telindus’ approach encompasses Fixed and Mobile Telecommunications, ICT Infrastructures, Multi-Cloud, Fintech solutions, Cybersecurity and Managed Services. Through its Training Institute, Telindus addresses the whole scope of its customers’ challenges, allowing professionals to stay at the cutting edge of ICT best practices and latest technologies.
About Infrachain a.s.b.l.
Infrachain a.s.b.l. (association sans but lucratif) is a Luxembourg based non-profit organization with a European scope. The association was launched in May 2017 by several industry players under the impulse and with the support of Digital Luxembourg, the Luxembourg government collaborative initiative that strengthens and guides the country’s digital efforts. Infrachain is committed to create an on-top governance framework allowing Blockchain applications to become operational in the current regulatory environment. The association counts more than 40 members from 7 EU countries.
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