Blockchain Financial Platform
The basis of action these days is trust. In the case of financial institutions, trust is a pillar of the economy. The crisis in the real estate market at the beginning of the 21st century showed that it is necessary to implement new standards. The project aims to create tools that address the problem of reliability and at the same time cover the need created for the implementation of the XBRL/ESEF format in the European Union in 2022/23. The Platform is intended to provide support in the preparation and verification of reports. At the same time, it takes into account problems with the US market (10 % of reports contain errors). Unique methods of data verification have been developed. Verification is not a single report, but the whole group. Machine Learning (ML) algorithms are used. The whole creates a unique database on which statistical algorithms can operate. This is the second pillar of the solution — an analytical tool for creating ad-hoc analyses with ML elements. The platform will support the creation of new indicators and their distribution. The last element is BlockChain Open Financial Base, which aims to provide a medium that guarantees the correctness of documents, and their anonymisation. Publication of documents together with metadata and different levels of access will allow for automation of processes that currently last several days, e.g. the process of creditworthiness testing. The project involves expanding the MVP developed during incubation and development of the final platform. At the same time, sales and promotion activities are planned. One of the processes that started and is important from the point of view of the success of the project is cooperation with universities aimed at increasing the credibility of the tool. All activities will lead to the creation of an ecosystem through which the Client will be able to create a report, verify the correctness and, on the basis of documents published by other entities, create processes for verification of sub-suppliers. Linking areas will allow the creation of products that are not currently available in the future.