Russian startup creates blockchain-based application to manage organizations

Digital Technologies Bureau (DTB), a Russian blockchain-based startup, has announced that it has created the Distributed Ledger Management System (DLMS), an application for document management organization on the basis of blockchain technology.

According to the CoinFox.com, the developers explained saying that DLMS enables control over functional processes within the organization. It tracks stages of task completion and also establishes the works of project teams and reduces the effort and time spent on planning reports and meetings.

“In fact, DLMS - this is the first blockchain solution for managing organizations," the company’s development director Daniel Kofman stated.

The system is organized in a way that each stage of task performance that is carried out by the system, is visible to the leaders and members of the project teams. The data downloaded and uploaded from blockchain have signatures from the system computers. These signatures provide document traceability and all changes made to them.

“DLMS facilitates not only internal workflow of an organization but it relations with regulators as well. Reports uploaded to DLMS will never be lost, while their preparation will be visible for leaders,” the company’s chief legal officer Nikolay Merkulov said. “The implementation of the DLMS can also considerably accelerate paperwork when applying for permissions and licenses because DLMS is not only about organization management, it allows creating document aggregation points as well,” the company’s chief legal officer Nikolay Merkulov said, as reported by CoinFox.

Headquartered in Moscow, Digital Technologies Bureau specializes in working with blockchain-systems and neural networks: from consulting, designing and implementation of modern solutions to the creation of cryptocurrencies, construction of infrastructure and legally supporting the technologies.