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.

Everything About Decentralized Identity

Posted on August 11, 2023

Have you ever wondered how great it would be if you did not have to share your PII (personal identification information) to access every digital website? Besides being tiring and invasive, there’s also a higher chance that your data could be stolen or sold to the highest bidder. However, decentralized identity could be a potential solution to this problem. Wondering how? Let’s find out.

What is Decentralized Identity

As the name suggests, decentralized identity is hosted on the decentralized ledger technology (DLT) or blockchain technology. That sounds good, but what is it?

Well, a decentralized identity is an identity management system that offers individuals the ultimate control over their identity and credentials without depending on a centralized body. This system works not just for individuals but also organizations and things as it lets them interact with others in a transparent and secure manner.

Based on blockchain, decentralized identity will serve as a verifiable proof of existence and allow individuals and organizations to access the stored data using a smart device connected to the internet.

Though individuals are thought to benefit the most from this, it’s also beneficial for the organizations as they won’t have to store user information in a centralized location, minimizing the risks of data breach. This will not only save them from unwarranted headaches but also positively impact their bottom line.

Benefits of decentralized identity

Decentralized identity can benefit individuals, developers, and organizations in multiple ways, including:

1) Easier application development: Through decentralized identity, developers can focus on building user-centric applications that don’t rely on breachable passwords to authenticate users.

2) Heightened security: Since individual data isn’t stored on centralized servers and is secured on blockchain, all data would be encrypted and thus, really challenging to hack into. Moreover, it isn’t possible to decrypt the stolen data without having access to the public and private keys.

3) Tamper-proof and immutable: Blockchain-based decentralized identifiers will be tamper-proof and unalterable.

4) Transparency: Blockchain-based identifiers would give individuals more control over their data and enable them to verify how their data is stored and what it is used for.

5) Verifiable credentials: Blockchain-based decentralized identity system will make it easier for organizations to authenticate and validate credentials. For instance, it would be possible for employers to validate the shortlisted candidate’s employment or education history instantly before they hire them, saving them time, money, and effort.

6) Single point of failure won’t impact the entire network: Decentralized identity systems are superior to centralized systems as there is no thing like a data blackout. Even if a single node is compromised or suffers from hardware issues, it won’t adversely impact the data stored on the network.

Besides these advantages, decentralized identifiers make data portability easier and simpler. Based on similar principles, ProofEasy, a blockchain and QR code-based platform makes it easier for its users to upload, store, and share their data securely. Further, it supports the generation of digital certificates and the verification of credentials instantly. The best part? ProofEasy’s customizable API layer makes it easy for businesses to integrate the solution with their existing systems.