Prof. Dr Georgi Dimitrov, owner of "Evrotrust" JSCo.
A born visionary and an incredibly charismatic person, Prof. Dr Georgi Dimitrov is globally recognized as one of the leading experts and consultants in all areas of technology law. He is a professor of information technology law, owner of "Evrotrust Technologies" JSCo, managing partner of Dimitrov, Petrov & Co., and founder and chairman of the "Law and Internet" Foundation. In addition, Prof. Dr Georgi Dimitrov was elected a member of the College of International Arbitrators at the Court of Arbitration at BIA in 2022.
Prof. Dimitrov, judging by your rich professional experience, we can create a column for you in the BIA magazine, but this issue and interview are dedicated to digitalization. Where is our country in this process?
Bulgaria has progressed significantly in recent years in terms of digitized administrative services, but the country is still significantly below the EU average. However, the situation is considerably better when it comes to business digitization. The pandemic reminded us of the necessity of digital services for administrations and businesses. We are dedicated to supporting digital transformation through our services and educating organizations on how they can offer more accessible and efficient services. As a result, I can proudly share that all our partners are demonstrating significant year-on-year growth in transactions conducted through digital channels, leading to broader adoption and diversity in the digital services they use and offer.
When and how did the idea for Evrotrust Technologies come about?
The idea came about seven years ago due to the years I spent working as a lawyer, but also the knowledge and experience I accumulated on electronic signatures and the, until then, relatively difficult-to-use technology. As an ordinary user, you had to have specific skills. So the main idea was to create a new generation of technology easily accessible to everyone from their mobile phone. Our partners were easily inspired, so after several years of hard work that some amazing Bulgarian girls and boys put in, the technology is now accessible to every Bulgarian citizen.
What is the service portfolio?
Our services aim to eliminate paper and personal presence so that people can get things done from their chairs - open an account, sign a contract with an insurance company, sign a lease, and apply for any government or municipal service. To this end, each service represents a different puzzle piece, solving another problem in the equation. The examples are endless: the e-identification service solves the problem of appearing in person with an ID card. The e-signature solves the problem of signing documents with a pen; the e-time certificate establishes the exact time of actions performed in the electronic environment, and the e-recommended mail solves the problem of delivering electronic documents and contents with return receipts proving the sending and receiving. The users access these services from their mobile phones with a click via the Eurotrust mobile app, whereas businesses can integrate them easily and link them to their systems.
Who can benefit from "Evrotrust Technologies"? What is the price of your services?
Any organization - commercial, financial, telecommunications, government, municipal - can use Evrotrust's services to digitize their relationships with users and contractors by integrating our solution. Using a standardised protocol, we have a system-to-system integration capability so that an organization's systems can "talk" to Evrotrust's systems automatically. Furthermore, we can embed the Eurotrust mobile application into the organization's mobile application and provide a web portal for the organization to use the services without any integration. These integrations cost tens of times less than the standard offline paperwork procedures. The cost is zero for the end user because it is covered by the integrating organization, which in turn eases the use of the solution and creates no financial barriers. The results for organizations and citizens are hundreds of millions of saved euros without mentioning the convenience and speed of the service.
What is the technology that Evrotrust works with?
The technology is based on a sophisticated highly-encrypted system for storing and managing cryptographic keys, which is certified for compliance with all standards approved by the European Commission and leading organizations in Europe. Each service is built on mobile technology or centralized data repositories that are also subject to certification by independent verifiers. The state, the Communications Regulation Commission, verifies all credentials and authorizes "Evrotrust" to operate with ongoing control. For end-users, the technology is an "Evrotrust" mobile app that users can download from the AppStore or GooglePlay, and the user has to register with their ID card. The registration and issuance of e-signature certificates are free of charge.
How do you solve the problem with electronic identification?
Electronic identification is a secure process where the user captures their ID and scans their face using their mobile phone camera. The app also performs multiple real-time checks against state records and confirms or rejects successful identification. Hence, users can identify themselves from their mobile phones to any company or government institution with a single click. In practice, the service replaces personal appearance and presenting IDs for identification.
How do you verify the exact time of a document?
We apply the "Qualified Time Certificate" service to verify the exact time of a document. When the customer wishes to activate it, they provide the record to "Evrotrust", which in turn takes the exact time from one of the atomic clocks in Europe and issues a unique certificate that the document created was presented at the exact time and date. The service is similar to the notarization of a written document, only in an electronic environment.
And how are the documents stored? Could they still be available after ten years?
Sent and signed documents are stored in encrypted form in the application's electronic archive and are accessible at any time by the user for viewing or downloading. This storage lasts ten years, but we advise users to make a copy of their signed documents in a private storage space.
What is Evrotrust Technologies' place in the overall digitalization of Bulgaria?
There are currently over 850 000 users who have used Evrotrust's services. Almost all banks, leasing companies, telecoms, and pension insurance companies allow users to communicate with them fully electronically. The state services of the commercial register, the portal for electronic administrative services, ministries and other departments enable citizens to request and receive administrative assistance remotely. We have over 8 million signed documents - imagine what that would mean in terms of paper! And the time that people would've spent physically visiting offices and administrations. Evrotrust is the largest authentication service provider and the most widely proven tool for digital transformation in Bulgaria.
What projects have you got planned for 2023?
The company is growing at a rapid pace. Over the past year, we have been recognized several times as one of the fastest-growing Bulgarian technology companies. In addition, Deloitte ranked the company in the TOP 50 most successful young companies in Central and Eastern Europe. Our development in the Bulgarian market continues to be extremely important, but expanding our international presence is among our new priorities. Many of our clients are multinational organizations interested in using our services in and beyond Europe. There is no shortage of investor interest in Evrotrust, making it possible to grow into new markets and evolve our technology solutions with new features to meet increasingly complex business needs.
And finally, since this issue's theme is "Success", what is the secret to having a successful business in Bulgaria?
You must genuinely believe in your ideas and dare to follow them through. There is no other recipe for success!
