More than a decade ago, the commercial engineer and president of Chile Transparente, Susana Sierra, co-founded BH Compliance, a digital platform for monitoring and certifying Crime Prevention Models – in order to help comply with the Criminal Liability Law for legal persons – to which they have just incorporated Blockchain technology.
BH Compliance currently works with 150 business groups that it audits in their compliance processes, that is, in establishing procedures to comply with the good practices adopted by a public or private organization, to prevent corruption within it.
Sierra explains that the platform makes it possible to show that companies “are really doing everything possible to prevent corruption and our part is to be able to demonstrate that the company was doing everything possible to prevent it”.
The executive points out that since this year the platform has Blockchain technology, with which they seek to “guarantee the integrity of the data” -such as financial data- generated by the companies they work with.
Blockchain helps to encrypt information to protect the security and privacy of data.
In the case of the platform, Sierra explains that the technology encrypts end-to-end what they audit, creating a kind of “digital fingerprint” for each piece of information they intervene, with the aim of avoiding alterations in the information that companies give them and that it will be exactly the same in “five, 10 or 15 years if it were to need to be presented.”
Sierra points out that the Blockchain allows them to “seal the evidence that is generated.
The best-known uses are cryptocurrencies, but it is also used in the traceability of internal company processes. What we are doing is to be able to give all the evidence that we are pre-constituting, in case something happens, we are leaving it to be credible in the future, before any authority in the world.”
Next step: AI
The BH Compliance platform has been slowly scaling up to reach new digital horizons.
In addition to the Blockchain, Sierra says that they are looking to incorporate artificial intelligence (AI) to improve the monitoring of good practices within companies.
He says that they are already training AI algorithms to perform the analysis.
“Today the platform works with humans on both sides, those who upload the information and those who review that information. Once we get it educated, we are also going to be able to scale the operational side much faster,” he says.