The business registry database, Kompany.com, made it known at a joint conference of the European Commerce Registers’ Forum (ECRF) and Corporate Registers’ Forum (CRF) that they are introducing a blockchain ledger into their business model.
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The company says their electronic ledger will be used as a new way to store both original and authoritative business information. By applying a “hybrid blockchain” to monitor new information and note changes in company information (e.g. company filings, changes in directors, etc.), they hope to provide more accurate records about these companies.
The company’s blockchain also would serve as one-stop shop to retrieve any kind of information or official documentation on any business or their executives. The intention is to create a source on the vitals of each business that is completely auditable, and in real-time reflects the best available information as it becomes known.
Instead of having divided databases providing different information, all the information that can be provided will be available in one transparent blockchain. Furthermore, it enables a search for companies based on all current and future identifiers (e.g. commercial register number, LEI, EUID, REID, DUNS®, Bloomberg Global ID/FIGI,