Following 24 months of intense collaboration with stakeholders, market leaders and other relevant parties, the project has been successfully completed and we are now pleased to explore the new go-to-market opportunities for the end deliverable of the Project – the Trustnexus platform.

The platform introduces a novel digital KYC (Know Your Customer) and KYB (Know Your Business) platform based on blockchain technology and AI. It shifts data authorization flow back to individuals and establishes a mutual approach for KYC checks and data sharing across industries. This comprehensive solution minimizes the risk of financial crime, puts data management in the hands of end-users, and improves accuracy and reduces compliance costs.

Trustnexus is a portal that simplifies access to services in ways that extend beyond simple onboarding and KYC. Operating via a federated community network of peer-verification, it creates a marketplace of services in a way that is easy, fast and secure for everyone involved. This novel approach opens the gateways to the future of KYC and e-identities, redefining onboarding with federated assurance and interoperability. With Trustnexus, users can create their own e-ID, manage your data, and decide who gets access to their personal data — no more, no less.

The solution is not just a tool; it’s a movement toward user empowerment, federated assurance, and interoperability. Trustnexus shifts control of data, to data owners, who decide to share uploaded information with specific providers in order to gain access to their services. At any point in time, users know what they have shared and with whom, and are free to revoke that consent.

The core values and principles upon which the solution is built are:

Pioneering Interoperability
A unified hub offering instant access to integrated third-party services. The Trustnexus portal streamlines KYC/KYB workflows across providers. Users gain access a marketplace of services with just one click.

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Our firm’s membership with GDF allows us to contribute to the advancement and adoption of market standards in the areas our firm operates, including innovation and technology, blockchain digital assets and digital identity, and collaborate in specialised working groups delivering unique outputs such as pilot regimes, codes of conduct and consultation responses. It further provides an engagement forum with global regulators and agencies to promote industry stewardship, regulatory certainty and meaningful compliance.

GDF members are at the forefront of creating market and conduct standards and best practices for digital finance participants in a shared engagement forum with market participants, policymakers and regulators.

We are proud to align ourselves with the GDF division, supporting the democratization of finance through digital assets and financial solutions.

For further insights on our collaboration with GDF and our role in advancing the global digital finance movement, don’t hesitate to get in touch.

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On 11th October 2023, partners of our firm Daniel Sakellariou and Mikaela Kantor attended the Fuelphoria Project Kick-Off Meeting, together with 22 other partners from the EU, Kenya and the UK.

The Consortium Partners met in Athens to kick off the FUELPHORIA project workings, which aims to establish sustainable, competitive and secure value chains for advanced biofuels and renewable non-biological fuels. The Project has received funding by the European Climate, Infrastructure and Environment Executive Agency (CINEA) under Cluster 5 of Horizon2020 of circa EUR10 million and will have a duration of 48 months.

As a partner of the Fuelphoria Consortium, DS Partners Law Firm will undertake, among others, the intellectual property management of the project and will ensure the safeguarding of the IPR to be developed, including establishing rules for accessing and using IPR for the implementation of the project objectives, as well as provide legal assistance and advice with any disputes or other issues that may arise with regards to IPR management.

The project contributes to the objectives of the European Commission’s 2022 REPower EU Plan “to scale-up renewables, achieve electrification, and replace fossil-based heat and fuel in industry, buildings, and the transport sector”. Project partners will demonstrate that sustainable value chains for advanced biofuels and non-biological renewable fuels can be established in real environment, offering an alternative to fossil fuels.

A range of chemical, electrochemical, biological, thermochemical, and photobiological processes will be used to convert different feedstocks into an array of renewable fuels. The fuels will be developed to meet quality specifications defined by end-users in the transport sector (aviation, maritime and road) and in the power production sector (gas or oil-fired thermal plants).  Four demonstrators in Spain, Belgium, and Greece will serve as the testing grounds for the nine value chains. They will solve the technical issues related to the conversion of feedstock into renewable fuels and will prepare their market entry, by designing innovative business models.

The participation of the Technical University of Mombasa (Kenya) will play an important role in exploring the possibilities of EU export of renewables and biofuels to Africa, whilst the University College of London will explore the potential exploitation of the FUELPHORIA value chains in Egypt. At the end of the project, a set of policy recommendations for EU policymakers will be developed with the objective of showcasing how the results of the project can contribute to a sustainable transition of the EU energy systems.

As part of our Alternative Legal Products service offering, our firm assists innovators, ranging from SMEs to multinationals, international consortia and academic institutions, to consider and address legal matters and industry sector regulatory requirements in the delivery of their innovative products.

For more information on the project or to discuss potential collaborations please contact us at info@dspartners.law.

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