Trace:original - a blockchain-based solution for digitization of the European mortgage market

Important results from the project

Purpose with trace:original has been to be able to create, manage and authenticate digital original documents. The aim was to develop, together with Swedish mortgage institutions, a game-changing new platform for digitising promissory notes in Sweden with a focus on mortgages. With the help of Stabelo, Accenture, Vinnova and through discussions with several banks and mortgage institutions, Enigio has been able to complete a solution for digital promissory notes with specific adaptation for mortgages. The solution is now ready for final validation and production go-live.

Expected long term effects

A solution for digital originals is now available for the Swedish market as well as the global market. We cooperate with Accenture regarding accessibility and integration both locally and internationally. For promissory notes in Sweden, we also plan to work with a partner to validate that trace:original documents are accepted by all stakeholders in a live case. Cost savings have been confirmed, streamlining of the secondary market as well, higher security can be achieved for both issuer and consumer. In addition, there are even more advantages with a completely digital process.

Approach and implementation

The project has followed the planned four phases (WP). The biggest challenge has been to get legal validation, this is now being done in a live case with partners. WP 1 (requirements): Completed - multiple workshops with Stabelo, Accenture and with several banks and mortgage institutions in Sweden. WP 2 and 3 (beta, pilot): Completed - Member nodes have been installed and tested for Stabelo, a Swedish bank and Accenture. WP4 (final phase): Final validation on-going, commercial production is scheduled for March 2019.