Member Interview with ReCheck

What does your company do?

ReCheck BV helps businesses reach their sustainability and profitability goals by providing decentralised solutions. We help organisations with data protection, tracing, and verification.

For the last five years, the company has helped various companies boost the transparency of their processes and data management systems – making them more secure, fraud-proof, and aligned with the privacy-by-design and user-centric principles.

Currently, ReCheck is focused on developing its latest product that is a dashboard for collecting and reporting building performance data that is energy consumption and air quality. Building data is validated upon fetching from IoT and then it can be easily used for analysis and benchmarking. Thus, we create a data warehouse that belongs to the building as a verifiable, easily accessible and transferable trusted history. These data drive the value of real estate.

Why/How did the company start (purpose)?

ReCheck co-founders, Dr. Emil Stoyanov and Emiliyan Enev believe that decentralised technology is the future. It is a game-changer, as it provides complete transparency and integrity in data management. Most of the current solutions that are used now are not built with privacy-by-design as a core principle. Not to mention that current systems and platforms make users dependent and leverage their data without giving back.

We serve as a bridge to decentralized technology and blockchain, in particular, helping businesses make their products and services more accessible, open, and secure. Our core product, the Facilitator to Blockchain, when implemented, allows for secure and encrypted data transfer, while privacy and traceability are both applied in the process.

What are the goals and ambitions of the company?

Currently, we are deeply into developing our latest product, ReCheck Green Box, and thus support real estate owners and investors in the transition to sustainable and healthy properties.

The population will be exponentially growing in the next several decades. That means there will be a severe need for shelter. At the same time, buildings account for 40% of EU energy consumption and 36% of the greenhouse gas emissions. There is a perfect storm coming and tools for data verification and accessibility are essential for policy making, regulatory compliance and investing in green buildings.

And our goal and greater ambitions are to be part of the change and the solution. ReCheck products can help real estate owners to reach their goals by feeding them on-demand data on energy performance and air quality. And all that in the most secure and accessible way.

What hurdles and challenges do you foresee? 

Although blockchain technology is maturing and proving its indisputable potential, there is still some reluctance from consumers and the government. Small steps are being made, but more awareness and standardisation are needed.

Interoperability is a great concern when it comes to using many systems, IoT devices, and operators. Harmonisation is one challenge – data is so fragmented and spread across different silos and platforms. In this regard, the synchronisation of platforms and technology may pose some obstacles on the way. There are a lot of peers that need to work together in industries such as real estate and construction. On top of that, fundamentally, real estate and construction are lagging behind in terms of digitalisation.

The problem with buildings is global and needs a comprehensive and integrated approach. However, local laws and standards impede the widespread adoption of technology. More actions are needed in terms of achieving better harmonisation and standardisation.

Why are you part of the BCNL community? 

Well, there is this quote by Michale Jordan – “Talent wins games, but teamwork and intelligence win championships.” The best solutions are always developed by teams, a result of collaborative intelligence.

Being part of the BCNL community helps us stay inspired and on track with our mission. Exchanging ideas, learning from others, and working together toward a common goal is exhilarating. Blockchain is a team sport and we believe in the collaborative creation of value. 

The BCNL family supports us as a company by providing us access to immense knowledge and resources to keep moving forward.

How can people/businesses best engage with you? 

We would love to hear from other peer members. Reach us directly by email or our social networks. We have a newsletter where you can read more about our developments and some news and hot trends in blockchain technology. Readers can easily subscribe to the newsletter via our website ReCheck.io.