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Sword Corporate Baker

Press Release
17 Nov 2020
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Today, Sword France expanded its involvement in the Tezos ecosystem by becoming a corporate baker. Tezos is a decentralized, public blockchain that evolves by upgrading itself. Tezos is dedicated to the creation and management of assets and distributed applications. By officially becoming a baker, Sword France will now validate transactions (blocks) and add them to the Tezos blockchain.

Sword France is an international leader in digital transformation that has engaged significantly with blockchain technologies, particularly Tezos. Last month, Sword France launched Tezos DigiSign , an open source solution to digitally sign, store and verify documents on the Tezos blockchain.

As a digital transformation leader since 2000, Sword has acquired a solid reputation in software publishing and complex IT & business project management. By relying on Tezos, Sword makes the choice of a blockchain protocol in line with the company’s expectations of technical excellence and high security standards.

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The Tezos blockchain uses a consensus algorithm based on a Liquid Proof-of-Stake mechanism (LPoS). Block creators, called “bakers”, fulfill - in an eco-friendly way - the same role as “miners” in previous blockchain generations. Each block is created by a randomly selected baker, endorsed by other bakers, and validated by the rest of the network. Bakers put up their stake of tez (XTZ) as collateral to ensure that blocks are validated correctly, incentivizing network participation and ensuring network security. By becoming a baker on the Tezos blockchain, Sword France joins more than 400 bakers around the world who participate every day in securing the Tezos network.

Alain Broustail, Sword Blockchain Director, comments

"We are convinced that crypto-assets and particularly security tokens will have a major role to play in tomorrow’s banking ecosystem. Becoming a corporate baker on Tezos is evidence of that conviction and represents a further step towards blockchain adoption. The choice of the Tezos blockchain is not accidental, we have been looking at the Tezos technology and working with the community for over a year. The Tezos network provides security guarantees, transparency and strong adaptability, which makes it very attractive for companies like ours. We believe in particular that it is today’s best distributed ledger for securities token issuing."

Michel Mauny, President of Nomadic Labs, the Research and Development laboratory that contributes to Tezos blockchain development in France, added

"The Tezos ecosystem is one of the most active in the world today and we are excited that companies like Sword France and EDF have chosen to join the heart of Tezos’ governance. Our blockchain vision is inclusive, which is why we support and accompany all companies that are thinking about discovering and adopting blockchain technology.”