San Francisco » Luxembourg Notary Blockchain Kickoff – A first in Europe

19-03-2019

Luxembourg has implemented a notary system based on blockchain in view to demonstrate the benefits of this new technology. The system allows registering any kind of document, ensuring its integrity over time, and providing a time stamp for the registration. It is therefore an ideal solution for the notarization of important documents such as audit logs. This first European Notary system based on blockchain optimizes security and collaboration of notarization processes while reducing costs. There are also other potential applications for this system in other use-cases where the guarantee of immutability of records is required.

The concept and technology have already been presented in Luxembourg to the EU Commission, the European Court of Auditors and representatives of 7 EU member states. The next step is the launch of a Member States Distributed Ledger Technology Network in order to explore and validate cross border use cases.

In order to maximize security and efficiency, a permissioned chain was used that can be operated on Infrachain certified nodes. Infrachain also provides community-driven governance, which is an essential element of any Blockchain.