The Challenge: Streamlining Business Documentation

During the COVID-19 pandemic, a surge in new business registrations highlighted the inefficiencies in traditional documentation methods. Entrepreneurs often grappled with multiple certificates and permits from various agencies, leading to administrative burdens.

To address this, Bolagsverket envisioned a unified digital platform where entrepreneurs could access all necessary documents securely and efficiently.

The Solution: Collaborating with TrueOriginal

Bolagsverket partnered with TrueOriginal to develop a blockchain-secured infrastructure named "Proof of Business." This initiative aimed to connect official documents—such as certificates, licenses, and registrations—into a cohesive, verifiable system.

Key deliverables from this collaboration included:

• Technical Solution: A tested concept allowing real-time verification of company information via blockchain technology.
• Design: Empowering registered companies to own and manage their information on the blockchain, facilitating transparency and trust among stakeholders.
• Integration: Development of an API to seamlessly transfer verified company information between TrueOriginal and Bolagsverket.

The Impact: Setting a Precedent for Digital Trust

This collaboration not only streamlined the documentation process for businesses but also set a benchmark for how government agencies can leverage blockchain technology. By ensuring documents are tamper-proof and easily verifiable, Bolagsverket enhanced trust and efficiency in public services.

As Erika Sjödin, Innovation Officer at Bolagsverket:

“With the help of TRUE, setting up our concept Proof of Business took eight weeks. We have just been given a government assignment to investigate this in a second phase. In this step, we will focus on Licenses, Trademark Certificates, Company Registrations, etc. But if we look a little further ahead, it can definitely be possible to use the technology for much more.” TRUE

Looking Ahead: A Blueprint for Government Innovation

Bolagsverket's initiative serves as a model for other government agencies aiming to modernize their services. By embracing blockchain technology, they have demonstrated how public institutions can enhance transparency, reduce administrative burdens, and build greater trust with citizens.

As governments worldwide navigate the complexities of digital transformation, Bolagsverket's collaboration with TrueOriginal offers valuable insights into the potential of blockchain in public administration.

👉 Contact TRUE to talk to a specialist in document management.

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