Making the Blockchain Real for Corporate Registries
The "Blockchain-Corporate-Registries-Companion-Paper" presents a proof of concept (POC) developed by the Digital ID & Authentication Council of Canada, IBM, and the Province of British Columbia. This POC explores blockchain's potential in enhancing corporate registry operations. It leverages Hyperledger, an open standard, for a decentralized, secure model for recording transactional information. The project aims to create a cross-province log of corporate registry actions, improving services by making cross-provincial data more accessible.
The goal of the POC is to explore the viability of blockchain technology and its potential to provide value to corporate registry operators, business owners, and their respective delegates.
Comparison with Blockchain International Corporate Registry Authority (BICRA)
1. Pioneering Blockchain Implementation: BICRA, like the POC, harnesses blockchain's capabilities for corporate registrations, signifying a shift towards innovative, decentralized solutions in corporate governance.
2. Global Legal Framework: BICRA's adherence to international legal standards such as UNCITRAL's framework highlights a global approach. In contrast, the POC primarily focuses on Canadian jurisdictions.
3. Decentralization and Security: Both BICRA and the POC emphasize decentralization. However, BICRA extends this principle to a global scale, offering a more diverse application beyond Canadian provincial collaborations.
4. Innovative Solutions for Corporate Challenges: The POC demonstrates how blockchain can streamline inter-jurisdictional corporate registry processes. BICRA takes this further by offering a globally decentralized registry system, potentially mitigating cross-border legal complexities.
5. Comprehensive Corporate Services: BICRA provides a broader range of services, including tax exemptions and privacy features, aligning with the needs of international businesses.
While the POC marks a significant step in utilizing blockchain for corporate registries within Canada, BICRA represents a more expansive, globally-oriented approach to blockchain-based corporate services. This positions BICRA ahead of the curve in terms of scope, legal compliance, and international applicability.
Moreover, the Blockchain International Corporate Registry Authority is a highly trusted and secure service provider worldwide. It manages a vast asset portfolio of over 6.2 million verified and audited Blockchain Corporations, Banks & Trusts, which makes BICRA the world's No. 1 Blockchain Corporate Registrar.
Empowering Global Entrepreneurs:
The Blockchain International Corporate Registry Authority remains the most popular "tax haven" in the world offering high-level financial confidentiality and the strongest legal protection of the entrepreneurs’ interests. Available Worldwide To Any Entrepreneur regardless of Citizenship.
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