Billon: A New Age of Monetary and Document Transactions
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Wojciech Kostrzewa, CEO
Blockchain technology continues to evolve rapidly across the globe and has become a part of the financial system that cannot be ignored anymore. Organizations are implementing blockchain-based solutions and stepping up to build the future of digital transactions. Poland based Billon, a technology company civilizing blockchain, with its interoperable, enterprise-grade software platform, is changing the way money moves across the globe. “Our technology using advanced cryptography and distributed ledger brought about a revolution in instant payment,” says Wojciech Kostrzewa, CEO of Billon.
Billon’s technology solves the problems of the alternative payments market as in the case of hefty and substantial monetary transactions, removing the requirement for vouchers, pre-paid cards, and other methods of settlement. It provides a secure and integrated view across the entire organization. By simplifying an organization’s complex processes and providing better engagement with their users digitally, the technology lowers costs while ensuring data privacy and control. To accommodate the needs of the global population in the digital era, Billon’s technology supports all national currencies, is compliant with data and financial regulations and breaks down barriers related to time and distance.
Billon’s platform can be used by organizations to eliminate operational bureaucracy and its proprietary blockchain architecture stores data directly on-chain with no additional costs.
Billon’s technology using advanced cryptography and distributed ledger brought about a revolution in instant payment
Additionally, Billon’s blockchain facilitates bilateral communication with clients and assures full digital engagement between an organization and its users, unlike legacy technologies that do not allow end users to have independent, unrestricted access to contractual documents.
Their versatile distributed ledger technology has enabled a new age of monetary and document transactions. It can process and maintain massively parallel payments on both a national and global scale and is capable of processing real currency without the use of miners or third-party exchanges. The revolutionary and highly scalable architecture of the blockchain ensures that the virtually unlimited data is stored in a secure and distributed network.
In addition to user nodes and corporate nodes, Billon’s permissioned ledger, which has a scalable distributed architecture, also consists of the privileged minting nodes, which form the anchor. There is no central authority and hence no single point of failure. As the network is self-organized, every node helps to maintain data integrity. For corporate clients that have millions of users, the easy to use software avoids the worry of provisioning infrastructure for their customer base. Through the addition of more nodes, Billon intends to achieve faster throughput than the existing software.
The blockchain engine developed by Billon enables it to co-create solutions with its customers on their existing infrastructure thus simplifying and reducing the costs of the back-office operations. It replaces the different back-office operations with one IT system to simplify direct payments and get the right amount of money to the entitled person without much delay. The software can be used across servers, operating systems such as Android, Apple, Linux and Windows, and is small enough to run on mobile phones, PC’s and IoT devices.
Billon’s flagship solution for trusted document governance provides clarity on the digital identity of users based on a blockchain protocol, with full protection against any changes in the document. This has led to its partnership with various organizations and the implementation of blockchain solutions across the territories of Japan and Southeast Asia.