As of 1 August 2021, a European citizen must be able to set up a company entirely digitally. Together with the KNB, KVK, ABN AMRO and the Tax Authorities, the Dutch Blockchain Coalition is investigating how the 'Company paspoort' can make the registration process and trading in a company's economic transactions more efficient and simpler. Current processes are being further digitized. These processes use Self Sovereign Identity (SSI) and blockchain technology.
An entrepreneur must resubmit many documents several times before setting up a company and also identify himself several times. This often entails additional costs and takes a lot of time. Even after the registration process, the entrepreneur must identify himself several times a year with existing data, for example to open a bank account, enter into a commercial relationship or to access a wholesaler. This requires applying again for -often the same - documents.
It must be easier, faster and safer to set up a company and trade in economic transactions. That is why the Dutch Blockchain Coalition and its partners officially started the Company Passport initiative in early 2021, and a demo was developed in 2022.
Step by step towards the company passport
At the beginning of 2022, a research agenda has been drawn up that contains questions related to legal and technical aspects, among other things. These questions are now being processed and extensive attention has been paid to the Value Case for entrepreneurs and for the organizations involved. Especially now that the proposition is becoming more concrete, we are looking for institutions and organizations that want to join in to provide input to the design and further functionalities of a future business passport. Interested? Contact us!