SystemX is to launch a new project on the blockchain, a new technological revolution or “Internet of transactions” which is a new step in removing intermediaries and redefining trustworthy third parties.

The Blockchain for Smart Transactions (BST) project will study the new services that can be created and will focus more particularly on the user, his identity and the ethical issues raised by this innovative approach.

The blockchain is a technology created with bitcoin, which has become the eighth most widespread currency in world trade. The blockchain will most likely revolutionize transactions and exchanges: in the same way that the Internet allowed peer-to-peer communications, the blockchain will allow future peer-to-peer transactions based on decentralized, autonomous logic. It holds inherent promise for innovation in sectors as as varied as finance, insurance, logistics, energy, mobility and so on. If we start investigating possible applications as of now, we will be ahead of the others in the next stage of digital revolution and the arrival of a “horizontal” society free of intermediaries.

The BST project, the first launched by SystemX involving blockchain technology, will aim to meet three main challenges to the project partners and their clients: improving their service offer, optimizing costs, and developing new uses. “Thanks to SystemX and its ability to federate all the interested parties quickly in developing this technology, our new Blockchain project will demonstrate the uses and services that can be made possible by a decentralized trustworthy third party”, noted Charles Kremer, Director of the Intelligent Territories Program.

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