LONDON and WARSAW, Poland (PRWEB) October 13, 2020
Billon Group, creator of a regulatory compliant DLT protocol and system for tokenizing and transacting national currency and processing sensitive data, is the newest member of Blockchain for Europe (BC4EU), a consortium of leading blockchain industry participants at the EU level.
Billon will collaborate with Blockchain for Europe’s key industry stakeholders to educate and promote understanding of blockchain technology and to support European regulators and policymakers in their goal to make blockchain a success.
“Billon is a top trailblazer in DLT as one of the first companies in Europe to tokenize and transact national currency under e-money licenses. We are delighted they have joined their voice of experience to our community,” said BC4EU Chair of the Board Maria Minaricova.
“Billon offers a working e-money model using DLT that not only varies from stablecoins but also already provides regulatory compliance. Billon’s approach to business solutions provides a reliable alternative to think about important regulatory frameworks, such as MiCA,” adds BC4EU Secretary General Robert Kopitsch.
Billon’s Distributed Digital Cash and Trusted Document Management solutions are used by prominent financial industry players including Raiffeisen Bank International, ERGO Hestia Insurance and BIK, the largest credit bureau in the CEE. Billon also has close ties to FIS as a graduate of FIS’s accelerator program with FIS’s participation in Billon’s Series A.
“We have a ready solution and practical experience to industry challenges,” said Billon Chief Growth Officer David Putts. “With European and global stakeholders engaged in the debate about central bank digital currency (CBDC), we believe Billon’s Distributed Digital Cash system can be a model for regulators on how to implement blockchain use cases in a manner which is safe, efficient and compliant with existing e-money regulations.”
“Technology often outpaces regulations, developing in ways that challenge long held constructs,” said Billon CEO Wojtek Kostrzewa. “But with that said, technology should adapt to regulations. Billon already holds e-money licenses in the EU, and policy makers should be aware of how DLT can be adapted to satisfy clear regulations. Blockchain for Europe provides a needed relationship between regulators across Europe and the emerging community of innovative blockchain players.”
Billon will focus on the Digital Euro initiative within Blockchain for Europe’s agenda. Additionally, Billon and BC4EU’s members are currently contributing to ongoing discussions on the proposed EU Regulation for Markets in Crypto-assets (MiCA).
Billon created a DLT protocol and system specifically for tokenizing and transacting national currency and processing sensitive data in compliance with regulations, thus unleashing the transformational capabilities of blockchain technologies in the regulated world.
Billon’s underlying protocol was designed for high throughput levels and low cost of maintenance in a range of environments. The system supports clients developing their own enterprise-grade applications in areas of Accounts & Transactions, Trusted Documents, and Identity & Data Sharing.
Billon Group Ltd. was founded in the UK in 2015, following several years of R&D in Poland. Its unique DLT protocol has been supported by many R&D grants, including the EU Horizon 2020 program. Billon is licensed to issue electronic money by regulators in the UK and Poland.
Billon’s growing client list includes leading companies such as FIS, Raiffeisen Bank International and BIK (the Polish credit reporting agency). Billon has offices in London and Warsaw.
About Blockchain for Europe
Blockchain for Europe represents international blockchain industry players at the EU-level. We proactively contribute to the regulatory debate by supporting European decision makers in their goal to make Blockchain technology a success. Blockchain for Europe closely collaborates with national, regional and global players – both at policy as well as industry level – to support the promotion of and education about blockchain technology.