Billon’s blockchain transforms business: a revolution in digital identity management and verification, in financial services and tokenization. Wojtek Kostrzewa, CEO and co-owner of Billon Group, President of the Board of the Polish Business Roundtable
Billon has created one of the most advanced methods of data storage and management in the form of Distributed Ledger Technology (DLT). What exactly is this technology and where does it apply?
Billon’s technology architects have created Blockchain DLT, which is a decentralized and distributed digital ledger, with wide applications in business: in digital identity management and verification, in financial services, tokenization.
Our blockchain processes data, documents, identities, tokens and money on the same tracks, leading to streamlined processes, security and automation. Billon’s solution is a revolution in data management and has been tested and verified by state regulators and internationally recognized companies.
Blockchain technology has also gained a lot of attention from international institutions, including the European Commission, which is increasingly willing to fund R&D in this area and support new applications for the decentralized data registry.
One of your flagship solutions is the blockchain-based Digital Product Passport. How does your solution differ from others available on the market?
Our flagship solution, Digital Product Passport, based on blockchain technology, offers several key differences from other solutions available on the market. First, it provides immutability and transparency in recording the digital history of a product, from production to consumption. Second, it enables accurate data recording, including details of materials, origin and environmental impact, providing consumers and companies with greater transparency and trust in the supply chain.
What information is included in such a document? Why are they so necessary?
The Digital Product Passport contains a wealth of information, including details about a product’s origin, manufacturing processes, materials used, environmental certifications and more. This information is crucial, because it allows consumers to make informed decisions about the products they buy and enables companies to demonstrate transparency and compliance with sustainability standards.
The Digital Product Passport is not only a way to track the product itself, but more importantly the materials used to make it, correct?
Of course, the Digital Product Passport tracks not only the product itself, but also the materials and processes used in its production. This holistic approach to the supply chain is important for promoting sustainability and ensuring product authenticity.
Does awareness of the origin and the path the product took before it got into the hands of the end consumer significantly affect consumer confidence in the brand?
Yes, consumers increasingly value knowing the origin and history of a product before purchasing it. This builds trust by providing transparency and allowing consumers to support brands that align with their values and sustainability concerns. This transparency also helps build brand loyalty and reduce the risk of counterfeiting.
What risks are we currently facing in the context of product data security?
In the context of product data security, we face a variety of threats, including data breaches, cyberattacks and unauthorized access to sensitive product information. Ensuring the security and integrity of data stored in the Digital Product Passport is critical to protecting both consumers and companies from these potential risks.
You have already received many awards, including for Payment Technology of the Year at the EU Fintech Awards in 2021. Do such awards motivate you to keep working or on the contrary, do they make you a bit lazy?
The blockchain created by Billon has not only received many international awards but has also been supported by a number of research and development grants, including from the EU’s Horizon2020 program. In 2022, the European Commission selected Billon as one of three providers for pre-commercial solution development and field testing of a European wide Blockchain, under the European Blockchain Services Infrastructure (EBSI) program. This reaffirms our commitment to innovation and faith in the quality of our solutions and, of course, inspires us to keep pushing the boundaries of our technology.
Wojciech Kostrzewa, CEO and co-owner of Billon Group, President of the Board of the Polish Business Roundtable
Wojciech Kostrzewa is the CEO and co-owner of the Billon Group, a Polish-British technology company offering blockchain-based enterprise solutions for payment products, asset tokenization and document management.
He is a member of the Board of Directors of Stadler Rail AG, Deputy Chairman of the Supervisory Board of ERGO Hestia SA and a member of the Supervisory Board of CANAL+ Polska SA.
Previously, Wojciech was the CEO of ITI Holdings, the Polish media and entertainment group (2005-18) and a member and the Chairman of TVN’s supervisory board, the leading Polish commercial broadcaster and media company (2005-17). Prior to 2004, he acted as CEO of Polski Bank Rozwoju (Polish Development Bank) and BRE Bank (aka. mBank), one of the largest universal banking groups in Poland.
Wojciech is the President of the Polish Business Roundtable (Polska Rada Biznesu) where he is a member since 1995. From 2004 to 2007, he was President of the Polish-German Chamber of Commerce and Industry. He graduated with a degree in economics from the University of Kiel, Germany and studied law at the University of Warsaw, Poland.
Last Updated on March 18, 2024 by Anastazja Lach