The National Council of Employees of Commercial Courts of France (Conseil National des Greffiers des Tribunaux de Commerce – CNGTC) has announced the deployment of a network supported by blockchain technology in order to streamline the management of the commercial and corporate register of that body.
Blockchain in the French justice
The new system based on the blockchain technology will be available to employees who operate in the commercial courts of France from 2019. What is mainly pursued is to improve the aspects of transparency and efficiency through modernization in the management of legal transactions related to the life cycle of companies.
The first tests of this new blockchain system were carried out successfully. Four of the council’s judicial secretaries and several IT providers involved in the project participated in the meetings. Subsequently, a roadmap was developed to move the platform gradually to large-scale production in the first half of 2019.
In the pilot program, the CNGTC affirmed that with the use of the new network based on the chain of blocks, the time used to update the record of several days, for some complex cases, to a single day could be reduced.
Pioneers in the implementation of blockchain
The president of the CNGTC, Sophie Jonval, made several comments about the implementation of the blockchain technology in the commercial courts of France and the expected effect that it would have on local commercial justice activities:
“This project, which is the result of an autonomous initiative between commercial court employees and the IBM firm, is the continuation of our efforts to be pioneers in the adoption of innovative technologies, in order to strengthen the quality of the public service provided by the commercial justice system, dedicated to the expectations and requirements of the multipolar and interconnected economic world of today.”
“We must be pragmatic and be at the forefront of progress in a technology like blockchain. The latter represents an important potential technology for our profession and for the modernization of the tools of commercial justice, which reflects our status, our mission and our professional rules.”
Traceability guaranteed by blockchain
The new blockchain platform of the French commercial courts is designed to facilitate the exchange of information between employees and ensure the traceability of notifications related to legal changes. It will be used to record and share information related to exchanges of regulatory information related to the difficulties of companies and changes in the status of companies registered in the French territory, such as corporate names, new branches, as well as when companies make mergers or, if applicable, cease operations for any reason.
IBM and Hyperledger, supporting the courts of France
The blockchain system was developed by IBM and built on the framework of Hyperledger Fabric, an open source project of the Linux Foundation.
Vincent Fournier, senior manager of blockchain at IBM France, expressed his impressions:
“This initiative is the first in the justice sector in France and is a perfect example of the role of blockchain in helping the regulated professions as they transform.”
Fournier concluded by saying:
“The qualities of blockchain are ideal for this use, improving the business processes of employees and adapting to the ever-changing nature of their missions.”