Polish e-money distributed ledger solutions provider Billon Group has completed, with the help of blockchain technology, the first end-to-end client pay out for participants in a market research programme.

Consumer research firm Conduct Research used Billon to transfer funds to 100 participants, who can pay bills, transfer to their own bank account or withdraw funds at their convenience at more than 40,000 Paypoint locations.

The service is the first of its kind in the UK using blockchain, aiming to enable micro-payments that were previously slow and unprofitable to be executed quickly and profitably free from traditional intermediaries.

David Putts, chairman and managing director of expansion and partnerships at Billon, said: “With an audit trail secured by distributed ledger, much of the back-office costs of monitoring and reconciling pay outs are eliminated. Billon fulfils the government’s published goals of reducing transaction fees and operating costs for SMEs by incorporating distributed ledger technology.”

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