The implementation of the Notarial Blockchain (BCN) will allow the Paris Chamber of Notaries to manage documents and company actions in a more efficient and reliable way.
La Chamber of Notaries of Paris announced the implementation of a blockchain private and centralized, which is called “Notarial Blockchain (BCN)” which aims to help efficiently manage the documentation handled within the entity, as well as improve the traceability of documents and actions of different companies and organizations.
This Chamber is recognized in France as one of the entities most focused on innovating with new technologies in development, so now the implementation of a private blockchain for the management of information and documents is another step towards the digital transformation of the entity. .
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What is the Paris Chamber of Notaries?
In France there are several notarial chambers that are distributed by departments throughout the country. The Chamber of Notaries of Paris, in its case, is an association that integrates the notaries in 3 departments of the nation, which are Paris, Seine-Saint Denis and Val de Marne, bringing together a total of 1.700 public officials and more than 6.000 employees distributed in more than 250 offices.
Now, recently the presidents and directors of the notaries that make up the Paris Chamber of Notaries announced the implementation of the BCN blockchain thanks to the support received from the Information and Communication Technologies Commission (ICT). Likewise, the notaries pointed out that this initiative is also due to the support and collaboration provided by DigitalBerry, a Parisian company that provides business services and solutions in the digital and technological field and that has been developing studies on blockchain technology to successfully integrate it into the notarial field.
Since 2017, the Paris Chamber of Notaries has been at the forefront of digital development and transformation, integrating new technologies into its environment such as electronic signatures, digital vaults, secure data and document exchange systems, among others. Now, this association is innovating in the implementation of blockchain as one of the technologies that will allow the development of new applications to improve the efficiency and effectiveness of the processes carried out in the notary profession.
Notary Blockchain Trust Authority
Since mid-June, the Chamber of Notaries of Paris established a Government Committee that includes a total of 5 presidents belonging to the association, who will be in charge of directing the Committee and guaranteeing compliance with the operating rules established within it to the use of the Notarial Blockchain (BCN).
Based on the trust policies established by the Governing Committee, the operating principles of the BCN will be organized to guarantee reliability and transparency in the processes carried out between notaries and clients, as well as in the requests of all those interested in using this blockchain.
Benefits of blockchain technology in the notarial sector
Within the notarial function and work, blockchain would be a complement to manage the process that is carried out within these spaces, for example, one of the objectives pursued by the Paris Chamber of Notaries is improve traceability of technical data that are managed within the association, so the documents of clients and notaries will be included within the blockchain to manage when they are sent, which notary does the registration and sending and the time it takes to complete.
The implementation of a private blockchain will allow the Chamber to create a ledger within the blockchain to be able track and monitor the status of each document, at the same time you can ensure that the copy within the blockchain is identical to the original document thanks to the immutability properties that the blockchain has.
On the other hand, the Chamber of Notaries also seeks improve the transfer of voluminous files and documents between each other and between notaries and clients, in order to guarantee a legal record that guarantees both the authorship of the document, as well as the exact date of registration and other processes carried out.
For this association of notaries, blockchain technology is a sophisticated mechanism that can generate great contributions to their profession, so the implementation of Blockchain Notarial (BCN) will give the Chamber the opportunity to test different practical use cases for the profession .
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