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.

Is Law firm Relying on Blockchain Sector for Better Safety?

Posted on June 16, 2022

Smart Contracts and Secure Records with ProofEasy

Blockchain, the fundamental technology behind bitcoin and other cryptocurrencies, has a massive range of use cases that stretch way beyond finance. The easiest way you can think of it is as a decentralized digital ledger.

Blockchain is one of the most promising fresh technologies to emerge from the last decade. Financial institutions, public and private sector, healthcare ,manufacturing, and energy companies are all accepting digital business trends. However, law firms have mostly lagged behind other industries in terms of adopting new technology. But, contrary to other technologies, the blockchain technology is a safer tool for law firms.

Adopting Blockchain Technology in the Legal Sector

Blockchain is a replicating, distributed ledger that develops a record of peer-to-peer transactions in the absence of a trusted authority. This model is powerful and effective because it works on a distributed consensus. It means all parties settle on the value and transaction consistency.

Not astoundingly, the technology experienced initial acceptance because it permitted a place where funds payments as well as financial transfers were quick and transparent. It was without the requirement for intermediary financial institutions because of qr code security. Additionally, once blockchain has recorded and encrypted documents, nobody can modify it without affecting all current blocks of data.

There is a huge range of practice areas where blockchain technology can emerge as a major player. It is right from supporting the altering nature of legal work to permitting new lines of business and distinguishing service offerings.

Law Firms have Started Relying on Blockchain

Law firms that are experiencing challenges, such as diminishing demand from corporate clients and robust competition from non-traditional players, are considering blockchain technology for two main reasons:

The foremost reason is smart contracts that includes scripted logic linked to simple Ricardian contracts. Fundamentally, smart contracts are groups of terms and conditions that can get automated. Here, blockchain appears to be the perfect & safest way to do that.
Second reason law firms are keen in blockchain technology is its capability to securely record events for long duration. This could include irrefutable intellectual property claims as well as criminal charges associated with a specific case or criminal procedure.

Even though wide-scale adoption of blockchain has not taken place yet, there are proof-of-concept projects emerging in nearly every industry. More and more law firms need to understand about this technology so they can be self-confident to guide and serve clients in this modern day.

Ensures Utmost Security of Legal Documents

The decentralized aspect of blockchain technology is a security feature that allows the digitization of legal material. By distributing data through a decentralized network of computers, blockchain is hard to hack and it prevents the confidential information from getting copied. Once law firms secure documents using blockchain technology , nobody can hack them. These documents contain an encrypted qr code that can be used to verify the authenticity of the documents . This blockchain code would reveal the data only if the hash value it has matches with the hash value on the QR code on the blockchain. Hence, the user can be sure that the document they are viewing is secure and tamperproof.

The Bottom Line

Since blockchain technology continues to evolve in the legal sector, developers are discovering fresh uses every year. Currently given the secure and stable nature of blockchain, the technology is seen as an effective, secure, and useful way for legal professionals to leverage technology in solving manifold legal issues. Know more about blockchain solutions like qr code authentication system and more with ProofEasy.