Proxeus is a blockchain company that allows companies to use its platform to migrate their business onto blockchain, without requiring a proper understanding of the concept. Technology company, IBM Switzerland, which created a “Blockchain Starter Pack”,has recently joined hands with Proxeus to enter the digitalswitzerland competition.
According to Cointelegraph, they have successfully registered a startup from Switzerland on blockchain in a “fraction” of the time it would take using regular methods. Other partners in the challenge include Grunder Rechtsanwälte, Kaiser Odermatt & Partner, Swisscom, VermögensZentrum and Zwicky Windlin & Partner. The challenge requires participants to create and implement projects which would promote Switzerland as the hub of innovative technology.
Proxeus: Bringing a Promising Blockchain Solution
The company, launched in 2015, prides itself on being the “WordPress for blockchain”. It even raised $25 million in two days for its ICO in February, without spending money on marketing. Instead, Proxeus implemented the “workflow and document-automation toolbox” on Proof of Concept (PoC) projects to attract blockchain users and companies. According to co-founder Antoine Verdon, they joined the digitalswitzerland challenge because of the PoC opportunities available, “The existing system was slow and inefficient. We have proposed a solution that allowed us to radically speed up the registration process by creating a parallel [B]lockchain track, while still producing all the paperwork necessary to document and formally incorporate the company.”
Verdon further explained that their entry proves that companies can be efficiently moved to blockchain without any change in their legislation, or without worrying about high fees. “But incorporating a company is only the first step: by tokenizing company shares and connecting them with crypto-identities, we will be able to automate entire areas of corporate law and financing,” said Verdon.
Ulrich Schimpel, CTO of Europe Team and IBM Research, Cognitive Industry Solutions (Zurich), said that making administrative work automated will “strengthen Switzerland’s position as a world-leading business location”.