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.

How Does Blockchain Technology is Apply in Legal Sector?

Posted on August 19, 2022

The legal industry can see the influence of blockchain in diverse ways, right from managing blockchain matters for clients to alterations in the delivery of legal services. However, blockchain is disrupting every industry, and that too for good.

For example, educational certificate verification is simplified with blockchain QR codes. Similarly, in the medical field, one can easily access authentic medical documents through blockchain solutions. The point is that blockchain plays a crucial role. This post will underline some points that will show you how you can apply blockchain technology in the legal sector.

The Smart Contract

Blockchain can alter the process and manner of P2P transactions, and one application is known as smart contracts. This concept of a smart contract is more comprehensive than a conventional or legal contract, and it is a written program similar to a contract. The enforcement takes place on the fulfillment of preconditions.

Smart contracts transform contracts into codes that are stored, simulated, and supervised by a network of blockchain computers. Though contract creation conventionally needs a client visit to an attorney’s office, negotiations, conversations between opposite lawyers, and execution of the agreement, the formation of smart contracts is a much timelier and simpler alternative.

The Rights Transfers

The immutable and efficient features of blockchain permit transactions of more intangible assets to get recorded in the ledgers. These intangible assets encompass the rights of real estate and intellectual property, and records reflect the rights of ownership and even obligations in such areas.

Conventionally, the land registry needed a government department to confirm and process the entitlement transfer. Certain disputes can emerge under this model, such as fake records, double spending, and difficulty classifying genuine owners. But with blockchain, things become simpler and tamperproof. One can simply scan the QR code on the legal document, and verify its legitimacy.

Moreover, in a blockchain-based land registry concept, each item includes buyers and sellers, type of rights transferred, transaction time, and more. These will be recorded in ledgers once transactions are made in an immutable manner entrenched by cryptography. It would permit certified users to check the status of the specific property. Once any new record is input, each node will review it. Hence, you will not see double spending or even fraud.

Regarding intellectual property IP, blockchain with AI (Artificial Intelligence) will change the intellectual property industry. It is mainly for those small-scale startups. Due to massive costs, it is tough for startups to protect their intellectual property.

The task of blockchain to the IP industry is like a land registry, as mentioned above. The low cost of blockchain is somewhat friendly to small-scale companies. With the assistance of artificial intelligence, it will permit the system to recognize possible IP infringements. For example, AI can right away identify the resemblance among different designs.

Conclusion

Blockchain is here to redefine the legal industry considerably and procedurally. You must adapt to the alterations and find your positions as legal firms or lawyers. It is because changes are happening, and they will happen. Just like the education sector is ensuring educational certificate verification through blockchain secure QR codes, why not you also use blockchain solutions for your legal institutions? Talk to ProofEasy about which blockchain solutions can do wonders for your legal endeavours.