French commercial court clerks can use a blockchain-based platform to record changes in companies’ status inside the country. the development was disclosed in an official announcement on March 14.

The blockchain network was together developed by IBM and therefore the National Council of Clerks (NCC) and can reportedly be deployed starting in 2019 by the clerks operative in business courts across France. The blockchain platform is constructed on the Hyperledger fabric framework and aims to extend transparency and potency in legal transactions related to the lifecycle of corporations within the registry.

Specifically, the answer are going to be used to record and share information associated with “the exchanges of regulatory info related to companies' difficulties,” yet as “the changes of status of the corporate registered on the French territory.” that features such data as change of company name, registration court workplace, institution of branch offices, and business dissolution.

In a pilot, NCC reportedly managed to shorten the time required to update the written record from many days to one day. Vincent Fournier, Senior Manager Blockchain at IBM France, said that "blockchain's qualities are ideal for this use, up the Clerks' business processes and adapting to the dynamic nature of their missions."

IBM has free various commercial blockchain products and filed a number of blockchain-related patents. Moreover, IBM reportedly offers the best number of blockchain jobs, per recent analysis by the subsequent internet.

This week, IBM partnered with blockchain consortium and credit union service organization CULedger to develop new blockchain-based solutions for the credit union business. These solutions will reportedly improve services like digital identity authentication, apprehend Your client compliance, lending and payments services, and alternative consumer processes that need authentication.

Also this month, IBM disclosed 2 new patents targeting network security using blockchain technology and specializing in database management using the tech.

To know more on Cryptocurrency and Blockchain events, follow us on Facebook, YouTube,  Twitter, LinkedIn, Reddit, Telegram, BitcoinTalk, and we are also on Medium now