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.

Know about Blockchain Security & What Keeps Transaction Data Secured

Posted on November 28, 2022

The usefulness of blockchain technology emerges from the reality that technology permits data to get shared rapidly and securely between parties without holding any party accountable for data security or transaction facilitation. Whether blockchain document security or transactional data protection, blockchain can do wonders.

Blockchain is a concept that is used to gather cryptocurrency transaction data. It is a decentralized database that stretches through a network of peer-to-peer computers to collect transactions. The data is reserved and safe and is less likely to be compromised in this way. Each blockchain is formed up of multiple transactions and their related information. Every time a new transaction takes place, a record of that transaction gets recorded in the ledger of every party engaged.

Transactional data relates to the organization’s transactions and encompass data gathered. For example, once any product is sold or purchased. Today, the risk of transactional data leakage is already impacting organizations. Hence, many companies are now considering blockchain for their transactional data security. And here is why:

Decentralized Tech

Rather than uploading data to a cloud server or gathering it in a single location, blockchain divides everything into small chunks and distributes them throughout the whole network of computers. It is a digital ledger of transactions that do not have a central control point. Every computer, or node, possesses a complete copy of the ledger. Hence, going down one or a few nodes will not result in any data loss.

It effectively removes the middleman, and there is no requirement to engage a third party to proceed with a transaction. You don’t need to trust a vendor or service provider when you can depend on a decentralized, immutable ledger.

Complete Encryption & Validation

Everything on the blockchain is encrypted, and one can prove that nobody has tampered with the data. Since it is distributed, you can check file signatures throughout all the ledgers on all the nodes in the blockchain network and confirm that nobody has changed them. In case someone does change any record, then the signature stands invalid. You can quickly scan the QR code on the data to know its authenticity. The code has a hash value that matches the hash value of the QR code on the blockchain.

It allows you to use the blockchain ledger to confirm that data you backed up and stored in the cloud with any third-party parties has remained entirely unchanged even months or years later. Nobody can refute that blockchain ensures reliable, independent data authentication.

Enhanced Security & Privacy

Businesses worldwide have been tensing about security for all types of transactions. Blockchain promises the security and safety of your transactions. End-to-end encrypted transactions get recorded in an untraceable way. It guarantees that fraudsters and hackers cannot access confidential data.

Blockchain is the perfect way to secure shared community data. Using blockchain capabilities, nobody can read or affect any sensitive stored data. It gets easy to handle the data distributed throughout a network of people.

The Bottom Line

Thus, blockchain has immense scope to secure your transactional data no matter in which industry you are. Whether you want to secure educational documents with blockchain or want any confidential data secured, the tech makes it happen. With a wide variety of applications, the blockchain can establish secure networks. Know more about how you can use it with experts at ProofEasy.