Open Business Council and Concordium partner to launch global trusted AI and blockchain based ID Certification for businesses and SMEs

Open Business Council and Concordium have announced a partnership to offer a Global Business Digital Identity enabled by AI and Blockchain based Certification. The two parties aim to promote greater business transparency and a more reliable and trustworthy authentication process for companies and trading partners.

Statistics from the World Bank highlight that 90% of all companies worldwide are SMEs and that they lack basic digital web skills. SMEs stand for 7 out of 10 job creation markets and contribute up to 40% of national income (GDP) in emerging economies. However, the lack of a digital transparent profile certification makes it difficult for businesses when they are trading to determine whether the other company is a real trusted entity, or not, and creates significant setbacks in business development and transactions. A blockchain based Global Trusted Digital ID AI Certification for businesses and SMEs is a way to solve some of the most pressing issues the companies face.

OpenBusinessCouncil’s solution built on Concordium will provide global companies, organisations and professionals a wiki profile page with an integrated AI driven verification process and a professional Corporate Digital ID (CID).

This verifiable certification solves the issues of trust and ability to provide proof of identity. The new CID will allow the companies efficient access to a range of trade-related and transactional services. The companies will be listed within the OpenBusinessCouncil business trade directory with a wiki profile page. The page will integrate data from the respective public registries of the country of registration together with related data about the business location and registration number, registered directors, etc.

“Businesses and SMEs are the backbone of the world economy and have little digital transformation tools. OpenBusinessCouncil’s digital wiki certification powered by Concordium blockchain ID allows any business to have a compliant transparent and validatable wiki profile in a platform that offers a set of digital tools. This will allow them to trade, exchange services and solutions, engage in digital trade corridors, and finance their products with other certified companies,” Dinis Guarda, founder of openbusinesscouncil.org said.

Concordium technology solutions include a self-sovereign Web3 ID platform, designed to fuel the global transformation from the existing internet to Web 3.0 and beyond. Concordium blockchain is based on Science based peer reviewed protocols and designed to be fast, secure and cost-effective, with low transaction fees. Concordium’s innovative Web3 ID layer provides on-chain identity and enhanced privacy for users.

Lone Fønss Schrøder, CEO of Concordium said about this partnership: “Concordium is pleased to support Openbusinesscouncil.org global business directory. It’s an important use case to have a business digital wiki profile, which is an added layer of trust for any company listed.

The platform is live at openbusinesscouncil.org.