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

Blog content:

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.

Is Document Management Get Easier with blockchain?

Posted on May 19, 2022

Data is a prime possession in any industry, business, or enterprise. There can be structured or unstructured data forms in paper documents. Documents mostly carry confidential and sensitive corporate ownership, transactions, policies, employee data, decisions, and evaluation data. Information is an important business asset, so document management turns out to be a crucial yet necessary business tool.

With more and more businesses transforming into the digital world, creating and applying the essential document and data management platforms is crucial. Moreover, the COVID-19 pandemic has enhanced the digital transformation efforts since more services are taking place online. In most document management systems available, there are loopholes and challenges. Well, blockchain technology can make things easy and secure through solutions like blockchain encrypted QR codes. You put a QR code on documents, and one can access it only if the QR code matches the QR code on the blockchain network. These QR codes include a unique hash value that must match. Thus, one can validate, track and trace the data easily.

Blockchain in Brief

Blockchain technology is a system of data recording that makes it impossible to change, attack, or manipulate a system. Technically, it is a distributed digital ledger of transactions working in a decentralized network of computer systems on the blockchain. Each block has different transactions; and there is recording done for addition of every new transaction to the ledger of each participant. You can use it to create effective and secure online documentation system.

Blockchain in Data Management

Blockchain technology has unique and distinct perks for enterprise document management systems. Blockchain technology permits transparent, trustworthy transactions where parties don’t have to reveal their identities. You also no need to register with any central authority. Hence, it effectively removes the expense of third parties in a transaction.

Blockchain helps in document management as it offers additional benefits to the traditional online document management systems provide. The technology enhances each feature and quality. Blockchain technology improves and eases document management in the below-given ways:

Easy & Secure Sharing

Document sharing is a crucial part of the document cycle, and blockchain technology removes the risk of unauthorized access or data corruption. Blockchain technology promises a reliable and secure way of sharing data throughout an organization.

The point is, that it evades the typical problem of duplications and the usage of different versions of the same document. It is because the moment a person modifies the document; the system will automatically register the update to ensure no misunderstanding emerges in the management of diverse files.

Tracking

A document management system can be effective only if there is proper tracking. Blockchain ensures the tracking and validation of any alteration starting from creating any document, changes, signatures, delivery, or even receipt. Hence there remains nothing in the dark, and everyone can know where their data is.

Advanced Storage

With Blockchain document management systems having electronic authentication QR codes, a business can store data and documents in an immutable form. It guarantees that nobody can tamper with data. There is a recording of every action to take on a document to ensure transparency and traceability.

The Bottom Line

Businesses need to have a document management system to manage the business data smoothly and conveniently. With blockchain playing a role in data management systems, organizations can save time; money and bring efficiency as all their documents and information are available, securely, easily, and promptly. Find out how to employ blockchain for your business with ProofEasy’s blockchain-based solutions.