B4TDM project covers introduction, implementation and scaling up a blockchain-based document and data management system. Billon has built a breakthrough data management solution that fundamentally challenges and surpasses existing centralized software solutions. Utilizing our experience in the practical application of blockchain, we have developed an ultra-secure, fully digital and regulatory compliant Distributed Ledger Technology (DLT) platform that enables data, identity and document exchange providing eco-friendly fully digital approach for managing contractual relations between corporate clients and their customers.
Billon envisions a world without paper, a world that doesn’t waste time waiting to receive forms in the post, and a world where documentation is transparent and controlled equally by service provider and Customer. The challenge isn’t new, but the technology to address it is. TDM- Billon’s blockchain solution is specifically designed to support customers facing persistent challenges with secure digital management of documents and other sensitive data, costing time and money.
72% of customers still receive printed documents even if they use a banking app or online banking:
- Paper is costly and time-consuming – it raises storage and distribution costs, requires personal time, and only 18% of companies consider themselves paperless
- The financial sector as well as organizations such as telco operators and utility providers in the EU, spend each year EUR 60 billion just on distribution of documents.
- Contemporary IT solutions provide only partial solutions – they help store documents in databases or clouds, distribute them, and let them sign electronically with a timestamp
- No other solution but paper, invented more than 2,000 years, is fully compliant with the EC regulations addressing “durable medium” requirement and personal data protection requirement (GDPR)
The project vision is to unleash the transformational capabilities of DLT technology with a high-performance system for Trusted Document Management eliminating paper and reducing costs and complexity of secure and efficient handling of data and documents. Beyond regulatory compliance (GDPR and durable medium), TDM solution provides new business value in digital document management with modules reaching full scope of capabilities covering three fundamental functions:
- Storage and retrieval of immutable data
- Confidential and reliable business communication - Eco-friendly digital delivery of obligatory documents to customers in real-time without a need of face-to-face contact
- Fully digital contractual relationship -blockchain-based contracts with remote signature, active delivery and KYC onboarding process
