Billon and Sygnity will work together on solutions using blockchain

Billon Digital Services, a company from the Billon capital group, has signed a cooperation agreement with Sygnity, a leading provider of solutions for digital transformation of companies and public administration.

The companies plan to combine their knowledge, experience and potential in order to enrich Sygnity’s solutions with Trusted Document Management offered by Billon’s blockchain system and respond to the interest of Sygnity’s customers in this technology. On the basis of the letter of intent Sygnity will receive access to an open blockchain platform (Unified Blockchain Platform) capable of processing documents of national currency, and any digital value in the form of tokens directly in data chain structures. Sygnity, as one of the most distinguished companies in the Polish history of computerisation and digitisation, will now be able to assess the possibility of applying distributed data architecture in its solutions. Billon and Sygnity will also collaborate on acquiring customers for such solutions.

– Sygnity joins the growing group of Billon’s partners using our blockchain system to create solutions building an internet of value and trust for business – says Andrzej Horoszczak, President of Billon Digital Services. – Solutions developed together can be used to optimise business processes, improve business management, and support strategic decision-making based on data. Using Billon’s blockchain system in data management allows you to reduce costs, ensure the highest level of security and build trust through transparency and full integrity of the data stored in it – he adds.

– We are a listed company present on the market for 30 years. During this time we have actively participated in the digital transformation of business and the state, taking part in the largest projects building the Polish economy. Our goal is to offer clients in Poland and worldwide the most advanced solutions which simplify processes and solve real business problems. Blockchain is a tool that adds aspects of security and trust to our solutions, which are of key importance in the era of increasing digitalisation. This is why we decided to cooperate with Billon – we believe that combining the competencies and experiences of both companies will allow us to offer our current and future customers a completely new quality of IT solutions – says Bogdan Zborowski, President of Sygnity.

About Billon Digital Services technology

Billon Digital Services is developing a Trusted Document Management (TDM) system, enabling a comprehensive, fully digital and compliant with regulations exchange of business information based on immutability and security of data stored using a proprietary blockchain technology. Unlike other blockchains, the protocol developed by Billon does not store only cryptographic references to documents (hash digests), but complete documents in a distributed form. In the process of publication, their content is decomposed and dispersed across blockchain nodes, which makes its unauthorised deletion or modification virtually impossible. The Billon system, as an encrypted and distributed database, is therefore ideal for storing and sharing any valuable documents, such as contracts, certificates, or diplomas, guaranteeing their authenticity and protecting against forgery. Billon is currently working on introducing remote signature and electronic document delivery functionality, which will allow remote declarations of intent and contracts to be entered into as an electronic document in full compliance with national and EU regulations.

Billon, working with another partner, has already launched a platform allowing companies to send electronic versions of documents to customers without the need for centrally managed data centres and fulfilling the regulatory requirements of a durable medium. Companies and institutions that use Billon’s blockchain to store and publish documents include Tauron, Syneriz, the Polish Section of IEEE and Kielce University of Technology, among others. Billon Group is also working with partners outside of Poland, including in the UK on solutions that store documents on the blockchain to enable recovery from a coronavirus pandemic – vaccination certificates or confirmations of readiness to work.

About Billon

Billon has unlocked the potential of blockchain by creating a new, efficient and scalable distributed ledger technology (DLT) for business. We combined national currency transactions, document recording and identity management in a single system. We have solved the obstacles preventing mass deployments of other blockchain protocols, and our technology already supports software solutions for banks, incentive and loyalty programs, micropayments, and RODO-compliant document and identity management. In doing so, we give businesses the necessary tools to digitally transform, take advantage of digital trends and make money transfers instant and intuitive, especially during the COVID-19 pandemic and its impact on the economy.

Billon was founded in the UK in 2015 based on an earlier research project from Poland. Its growth has been supported by numerous R&D grants, including from the EU’s Horizon 2020 framework programme, and today it employs an international team of more than 80 people in its offices in London and Warsaw. The company is licensed as an electronic money issuer by the FCA in the UK and by the PFSA in Poland.

In implementing its technology, Billon works with market-leading business partners such as the Credit Information Bureau in Poland, Raiffeisen Bank International in Austria and FIS in the United States.

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About Sygnity

Sygnity S.A., as one of the first IT companies listed on the Warsaw Stock Exchange, has been actively participating in the digital transformation of the Polish economy and public administration since 1991. The Company provides IT solutions for the largest companies and most important public administration institutions.

Its main scope of activities includes production, implementation and maintenance of software, integration of applications and IT consulting. Sygnity directs its services and products to such market segments as industry, energy, utilities, retail, banking, insurance, capital market and public administration: central and local government.

Throughout Poland, Sygnity S.A. employs over 900 experts gathered in 13 specialised teams, runs over 400 current projects in Poland and Europe, and cooperates with global technology providers, such as: IBM, Oracle, Dell Technologies, RedHat, UIPath, VMware, Cisco or National Cloud.