Inauguration of the TrustShare Chair

Mazars, Télécom Paris, le Groupe Caisse des Dépôts et la Fondation Mines-Télécom signed the TrustShare chair on Thursday 14 April at Mazars’ offices in La Défense.

On this occasion, Luis Belmar Letelier, a Mazars partner, spoke about the interest for an international audit and consulting firm like Mazars to get involved in the design of decentralized algorithms that are more efficient, respect confidentiality and are adapted to the variety of uses of the blockchain. “Mazars wishes to contribute to the structuring of the sector of trust algorithms based on distributed systems, and to become one of the reference players. These systems are set to develop in particular in business relationships, at the level of both physical and financial transactions, and within their associated legal, accounting and tax ecosystems.“

Petr Kuznetsov, Professor at Télécom Paris and holder of the TrustShare Chair, went on to explain the technical approach of the Chair: “To create data-sharing systems that are more efficient and less energy-intensive than conventional blockchain solutions, we have two ways of proceeding: we can consider a simpler problem to be solved, that is less generic, but on the contrary specific to a particular use, such as the problem of transferring assets (e.g. cryptocurrency). We can also consider a stronger operating model, for example with certain trust assumptions defined for small groups of participants involved in a smart contract. Within the Chair, we will explore both directions simultaneously.“