How useful it is to issue digital certificates on the blockchain?

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Blockchain technology is used in several ways in varied industries for offering high-security managing distribution systems and recording valuable information. Blockchain records all transactions without any verification from third parties. An evolving issue in recent years is - counterfeiting certification. It is posing serious threats to people. Issuing paper-based certificates manually is prone to errors and time- consuming. Day by day, the number of people's data is increasing, so deploying a system for both issuing and verifying digital certificates based on blockchain technology can solve issues of forged documents.

What is the current problem with document certification?

Many organisations and businesses need original documents for verification purposes before further processing. Some valuable documents like (birth certificates) exist only once. Parties involved in verification and issuing other certificates may experience hesitancy to handle these sensitive documents and that can result in damage or even loss. Many parties are unable to protect the valuable physical pieces of paper with this process. Another big problem comes from data theft. Many people have reported it. So the question comes: how can this issue be solved? Creating digital proof or digital certificates certified or signed by respective institutions or authorised organisations can be beneficial. With blockchain-based digital certificates, you can access and verify the digital asset's authenticity without depending on any intermediary or third party. Traditional data records like paper files deteriorate over time. storing records like digital certificates on the blockchain can help in safeguarding sensitive credentials from destruction & damage. Blockchain document security methods can help users seamlessly secure their sensitive documents.

What about blockchain solutions?

Blockchain technology has brought a revolution in storing and sharing data. The mechanism of cryptography helps in keeping information fully secured. Blockchain offers a digital ledger or decentralised database of data. Centred on computer networks that approve updates before data get recorded and verified. It lessens the reliance and vulnerability of centralised data storage. Instead of handling physical pieces of documents, issuing and storing digital certificates in blockchain can be advantageous to users. You can efficiently utilise the benefits of blockchain, like - authentication, encryption and decentralisation. Every certificate consists of references of both issuer and receiver with a hash (a sign of document), that is stored in the public database. It is identical in the number of computers throughout the globe. These digital certificates with blockchain technology have vital additional advantages over any other certificates.

How does blockchain make digital certificates work?

When a digital certificate is issued, data gets digitised. A digital identity gets assigned to every certificate. All of the digital certificates are tagged as well as traceable. Original documents are stored safely in the computer networks in the blockchain which are known as nodes. In totality, blockchain makes digital certificates highly transparent and secured. It also makes it easy to unfurl any fraud because this technology can expose any forged or outdated certificates.

Are these digital certificates tamper-proof?

Yes, the digital certificates are tamper-proof not by just signing but right after the beginning of the transaction. A signing algorithm produces a signature that is encrypted through a private key. The digital signature in these certificates can never be forged without having access to the private key of the user or members. With the help of document security QR codes, users can secure their valuable credentials.

What are the potential benefits of issuing digital certificates on the blockchain?

Blockchain has evolved to be beneficial for the financial industry. This technology is the most talked about and sought-after technology used in the world. There are innumerable benefits of issuing digital certificates on the blockchain. Some of them are here: a) Require fewer resources for issuance: Issuance and maintenance of digital certificates on the blockchain require a very less number of resources. As a result, the whole process saves time, effort and human capital. b) Digital certificates are conveyable: Contrary to physical certificates, the digital ones issued on the blockchain need not be carried around every place. Digital certificates are there to exist for a lifetime. These certificates can be easily accessed on any of your devices from any part of the world. c) Ideal as Identity proof: Digital certificates based on blockchain are the best substitution for the traditional proofs of paper identification. Digital certificates are issued on a highly secured framework of blockchain which is fully secured. These verifiable certificates can be easily traced all the way back to an issuer. This method makes the procedure transparent. You can use the blockchain document security method for securing and storing your valuable documents. d) Gives overall data security: Paper certificates can also take days and months to get issued and dispatched. Paper certificates can be altered without issuing the institute's knowledge and that is risky. Digital certificates issued on the blockchain can not be altered by any person. If someone tries to tamper with it, then verification will fail. This makes data in your digital certificates fully secured as well as traceable. e) No third party requirement: Blockchain verification of digital certificates can be performed by any person having access to the network. There is no need for any third party interference for verification. Digital certificates can be verified even if any organisation that issued them no longer exists. f) For micro-credentialing: Every data remains encrypted in the digital certificates issued on the blockchain. Organisations or businesses can issue "micro-credentialing" for recognizing, career skills, learning and so on. It can help both students and organisations. g) Comes at an affordable cost: Using blockchain is not expensive. With the help of the blockchain-powered platform, you can issue digital certificates for numerous services with ease. You may need no extra software or hardware and be done with an internet connection. So in nutshell, the unique features of blockchain technology make issuing digital certificates easy and tamper-proof. Blockchain technology simplifies and facilities the entire process of issuance of digital certificates. It also helps in the easy transfer of these certificates leading to the expansion of contents and information. We hope in the next few years, more and more organisations will come forward in embracing digital certificates issuance on the blockchain. A blockchain document security system can help you to secure sensitive credentials with ease.

Unification of Blockchain with Legal Sector

Posted on November 9, 2022

The term Blockchain is quickly turning out to be a word that is not just recognized by members of the technology area but by professionals from other Industries. The legal Industry is also experiencing the impact of this situational development. Legal experts are already tending towards embracing blockchain tech solutions like making blockchain encrypted qr code solutions to secure legal documents and make them easily accessible.

Even though massive-scale adoption hasn’t happened yet, there is evidence that Blockchain is taking place in nearly every Industry. Law firms and the legal sector need to know about this powerful technology to reap the best gains. Once you unify Blockchain with the legal Industry, you will find excellent outcomes. Here are how blockchain solutions can impact the blockchain industry.

Smart Contracts

The prime aspect of smart contracts is that they are immutable and distributed. Once there is the creation of an smart agreement, nobody can change it again. It reduces the danger of anyone tampering with it. Hence, it ensures that no one can mess with the code of your contract. These contracts, even known as self-executing contracts, transform contracts into codes. A network of blockchain computers store, replicate, and supervise them.

Contract creation conventionally needed a client visit to a lawyer’s office, conversations between opposing lawyers, negotiations, and even execution of the agreement. But today, smart contracts are an efficient, timely, and simple option. With smart contracts, a hash value is added to a ledger that automatically adds all the essential data. It does not just define the terms and consequences of a contract; it inevitably applies it.

Secure Data Storage

Blockchain, being a secure, distributed ledger, offers a healthy way of storing information relevant to the legal profession. Establishing and storing wills and testaments on a blockchain may permit a person to specify to who they want to leave their possessions, how, and with comfort that the choice would be secure.

Rather than stored in a piece of paper that can go missing or anyone tampering with it, the will would stay on a robust digital platform. Being in the legal sector, you can take an interest in blockchain technology because it can record events for quite a long time. For example, criminal trials are often lengthy and include a considerable sum of paper-based evidence. This evidence can get damaged or misplaced. Once you encrypt a case into a blockchain system, you can enhance the record-keeping, and there will be the creation of an auditable trial history of document amendments. Furthermore, permission to see criminal records can be there at different levels. Hence, interested parties may get updates immediately.

Intellectual Property

How intellectual property is protected is improving, and it is because of Blockchain. Legal firms and professionals can leverage Blockchain to create records of unregistered IP rights and aid in tracking the creation timelines. Not just that, one can also lean on blockchains to determine who has earlier viewed and accessed copyrighted stuff. Thus, advances in trademark and prevailing copyright law are touching the horizon. For example, everyone understands the importance of document security, right? With blockchain technology, one can make documents tamperproof, and everyone having access to the network can track the records. By scanning the blockchain-secure QR code, one can track intellectual property data at all times.

The Bottom Line

You can see that there are numerous real-world use cases for blockchain technology in the legal sector. Whether you are a legal firm, a professional lawyer, or any legal expert, you have much scope to use blockchain solutions. Find out more at ProofEasy.