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 the Best Blockchain Applications for Your Documents

Posted on December 14, 2022

Blockchain technology plays its role in many different industries. This tech is helping many adopters stay ahead of their competitors’ curve. For example, nobody can hack or tamper with blockchain secure documents; hence, immutability remains.

Managing Supply Chain

Supply chains are the administrative and logistical systems through which goods get transported from a factory, extractor, or even grower to the consumer. These are typically complex systems that can span the entire globe. Since importing and exporting raw materials and final goods have become progressively global, keeping a close watch over supply chains is a considerably more troublesome task.

Most such systems include independent databases where the storage of records is central. It can make receiving verifiable information about shipments and procedures closely impossible for the person tasked with supply chain management. It is because opaqueness and fragmentation can disturb any unity they hope to develop throughout the links in the supply chain. Here blockchain can help.

Blockchain is a single, decentralized ledger. It means all parties on a supply chain may log their information into that ledger when they have the proper permission. It will permit a single, secure system by which every single unit in the chain, mainly the overseer, can view it in real time. They can also see how the goods are getting handled and processed on their way to their last destination. It simultaneously enhances transparency while holding each halt in the supply chain answerable for lost, damaged, or even deceitful goods getting introduced into the supply.

Dropping the Cost of Data Breach

Organizations and businesses can reduce the expense of data breaches by using a blockchain application. They can also dodge losses, litigation, compromised customer data, and interruption or downtime expenses related to the breaches.

Data and information security costs organizations more than twenty to thirty percent of their IT budgets. Moreover, it takes months and even longer to fix the affected systems. The annual expense of data breaches stands at more than millions at present.

Now, if your organization uses a blockchain-based QR code on the documents and data, they will stay secure. There will be no breaches or hacks. The blockchain QR code includes a unique hash value that matches the QR code on the blockchain network. Hence, it ensures immutability.

Enhanced Level of Record Keeping

Physical documents and record-keeping systems, from marriage licenses to criminal records and corporate filings, cover the room, are challenging to organize and navigate, and primarily serve little purpose beyond formality. Once the system is digital and secured along the blockchain, records requests will be a breeze.

Similarly, law enforcement could benefit from a system through which records and sensitive information are transmitted between departments efficiently and securely. Endless investigations go cold just because departments didn’t have the proper facilities and means to share information that might have resulted in a suspect being gripped.

Through blockchain system one agency or department might store and share information with another by passing along a secure QR code. Hence, it reduces barriers to sharing information, resulting in more information shared and a better number of cases solved. After all, blockchain file sharing is efficient, effective, transparent, and secure.

The Bottom Line

Professionals are considering blockchain technology in nearly every business area, including supply chain, cryptocurrencies, logistics, intellectual property management, healthcare data management, food safety, fundraising and investment with security token offerings, and even notary. Learn more about how you can adapt blockchain in your organization with ProofEasy.