How blockchain will create new businesses

This year, when it launches, the Creditshare.io application is likely to make noise in the credit world. Its aim: to facilitate direct lending between companies, bypassing banks and brokers. Clément Bergé-Lefranc, one of the founders of Ledgys, the startup behind the project, sums it up as follows: “The borrower enters his financial information on the platform. These are encrypted and converted by our algorithm to a solvency ratio. The lender then knows the risks involved. When he decides, he transfers the money via our blockchain, which secures the transaction. “

Developed after the financial crisis of 2008, with the virtual currency Bitcoin, blockchain is a cryptography and computer data exchange technology that is considered inviolable. Copied to the computers of all users of the system, the “chain of blocks”, a kind of register of transactions, can be consulted by anyone and can not be forged, except to take control of tens of thousands of devices.

HOW DOES THE BLOCK CHAIN ​​WORK? EXAMPLE WITH BITCOIN

Louise and Tom both have bitcoins and on their computer they each have one wallet (a virtual wallet) of the famous cryptocurrency.

Louise needs 10 bitcoins (value February 13, 2017: 9,275 euros). Tom agrees to lend them to her. He initiates the transaction directly from his computer to Louise.

3. The transaction goes into blockchain bitcoin. There is a database in peer to peer: other users, called “miners”, confirm that the transaction is valid, ie wallets Toms and Louise are well registered and that Toms is well stocked with bitcoins.

Louise receives her 10 bitcoins. Blockchain registers that she is the new owner of these 10 bitcoins and that Tom has 10 smaller ones. At no point did the two friends go through a bank and the operation only took them a few minutes. Above all, they paid very little in fees.

> video. Understand bitcoin in 1 minute 20:

SAFE APPROVAL. With this digital Fort Knox, there is no longer a need for a trusted third party. The banking sector is therefore very interested in this, especially in speeding up transactions between establishments. This is not the only one. Dozens of start-ups around the world have begun to consider how, thanks to this technology, they could revolutionize insurance, energy, health, the collaborative economy, and even work.

In France, they are still only a handful, “at most twenty,” assesses Claire Balva of Blockchain France, a consulting firm specializing in the issue. Most work in economics and B to B. Thus Ledgys it designs blockchain infrastructures on which different marketplaces can be grafted: Creditshare.io, but also Dipl.me, which guarantees recruiters the authenticity of their employees’ diplomas, Guarent.net, which secures transactions between owners and their tenants, Glassinsurance. io, which offers its services to insurance companies, etc.

> In numbers: 18 billion euros. This is what banks could save every year thanks to blockchain (Source: Banco Santander, 2015). $ 1 billion has already been invested in start-ups in the sector.

PROTECTED PATENTS. Same model at Stratumn, which raised 600,000 euros into 2014. The startup has designed a medium on which other young shoots will install software layers and apps in areas related to microinsurance, data protection, etc. “Our technology is used to store evidence for documents,” explains Sébastien Couture, one of the co-founders. Instead of filing a patent or sending a Soleau envelope, a scientist saves a file of his work in blockchain. for life: in the event of a dispute with a colleague, the timestamp proves the anteriority of his idea and thus paternity.

In finance, belem is developing a system that allows banks to manage their risk management (much like Ledgys). It can also serve as a marketplace to execute over-the-counter transactions without going through a broker, while guaranteeing the same level of security and confidentiality. “It’s a market funding niche that has never been rocked before,” welcomes Romain Rouphael, its co-creator. His company currently has three employees and he is aiming for balance in 2017. A testament to the market’s potential.

> video. Understanding blockchain: operations and challenges.

SMART CONTRACTS. The possibilities for blockchain do not stop at security and certification. Recently, EthereumThe Vitalik Buterin Foundation (which raised $ 18.9 million) turned the young ecosystem upside down with a major innovation: smart contracts (smart contracts). Simon Polrot, who launched Ethereum France, explains: “These are actually coded functions that are performed as soon as the pre-defined conditions are met. Thus, insurers can automate the payment of compensation in case of damage. This represents a significant time saving for them. and their customers. ”

Read also: The Ministry of Defense is interested in bitcoin and blockchain

AIRBNB TRUET? In Germany, Slock.it wants to connect this system to connected objects to revolutionize the collaborative economy. “With a smart contract and a connected lock, no need for Airbnb: the tenant passes his smartphone in front of the lock to enter the apartment. At the end of the rental period, the doors automatically lock again, ”says Stephan Tual, co-founder of the start-up. Strong argument: the commission will be almost 1%, against 15% for Airbnb.

Consumer blockchain applications are still rare, but there are a few precursors. Blockpharmathe anti-counterfeiting solution launched by Fanny Roseau, makes it possible with a smartphone to verify that a box of medicine has actually come from a laboratory. KeeeX, Laurent Henocque’s young Marseille recording (100,000 euros raised), certifies office documents. A contribution that may prove to be crucial for the development of the collaboration. Finally, the buying platform Mubiz, created by Albin Cauderlier, puts producers and consumers in direct contact. There are still places to take, it’s time to go!

Consumer blockchain applications are still rare, but there are a few precursors. Blockpharmathe anti-counterfeiting solution launched by Fanny Roseau, makes it possible with a smartphone to verify that a box of medicine has actually come from a laboratory. KeeeX, Laurent Henocque’s young Marseille recording (100,000 euros raised), certifies office documents. A contribution that may prove to be crucial for the development of the collaboration. Finally, the buying platform Mubiz, created by Albin Cauderlier, puts producers and consumers in direct contact. There are still places to take, it’s time to go!

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