Blockchain-based service that anonymously secures and stores an online distributed proof-of-existence for any document. It creates a 'digital fingerprint' that is easily traceable while also adding a layer of security in proving data ownership without revealing the actual data.
A blockchain-based service that anonymously secures and stores an online distributed proof-of-existence for any document, as well as proof-of-ownership and document ownership transfer. While not serving as document storage, documents and files are instead time-stamped and assigned a digital fingerprint within the blockchain to prevent unauthorized tampering and modification. It allows a public verification of the document’s date, authenticity, origin, integrity, and content without publicly disclosing the content itself. Biometric identification such as fingerprints could be used as a digital signature (or private key in cryptography terms), to prove that an individual is the owner of a particular document.
Common centralized entities that secure information and authenticity, such as banks, could replace their current systems with blockchain notaries, giving the digital hash the same status as legal validation. Instead of having people physically visiting registry offices to validate information, all validations could be done online. This service could add additional security for digital transactions on the internet, thus allowing extensive cooperation.
The implementation of this protocol creates a "digital footprint" that is easily traceable, adding a layer of security that proves data ownership without revealing the data itself. Considering the advantages, government agencies and public services could employ a distributed network accompanied by a public ledger instead of central notary authorities.
Birth and marriage certificates could also be issued using the Blockchain Notaries, reducing the cost and time as well as improving safety. This could guarantee the right to identity for children as soon as they are born or even recognize same-sex marriage in places where it is still not legalized.
One possible method of using blockchain notaries is by developing Smart Contracts that invoke a statutory durable power of attorney when the owner/user is not available or disabled. This process would alleviate crucial problems that affect people with mobility limitations. By learning the methodologies of decision-making through machine learning, this technology could automate the whole certification system. Questions regarding the level of trust state governments would give to the blockchain remain uncertain, especially considering its by-design resistance to allow any modification made by a central authority on the data.