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.

5 ways Proof Easy provides a reliable reference point for verification

Posted on May 21, 2021

Introduction- Why is verification necessary in an enterprise?

Verification is an internal procedure that substantiates the accuracy and validity of documents, system infrastructure, customer information, etc., for an enterprise. It is a prominent and integral part of the quality management system. For instance, ISO 9000, verification of computer simulation models, change control, etc.

This is broadly effectuated across industries relating to software and computer systems, food hygiene, civil engineering, real estate, accounting and various other institutions to help their own set of regulations and specifications.

Since the enterprises in these sectors rule a billion customers, they also become prey to credential thefts, payment frauds, cyber hiccups. This, in turn, endangers the credentials of customers and depletes the functioning ability of businesses. Ergo, verification process such as reviews, walkthroughs and inspection of internal units ensures their quality, design and security.

Describing different reference points for verification needed in an organisation

What is a reference point?
In general, a ‘reference point’ is equivalent to a ‘frame of reference’ that bear witness to a businesses’ market manoeuvres. As this in succession depicts if the company would be an ultimate failure or success.

For instance, while considering directions for a specific destination, a particular landmark is deemed a reference. The same applies to businesses. To achieve a particular goal about security, system design, etc., respective reference points are to be gauged and completed.

Why is it needed in a business? What will happen without a reference point?
Reference Points hold a high priority value in businesses. They determine the target market of a particular business goal, compare rival brands/ products/services and alleviate distractions/extrinsic factors surrounding the company.

Without a reference point, a business may experience the following disadvantage:

Increased uncertainty of product value.
Inequality among multiple companies.
Brands may not be able to achieve good sales figures.
Less Revenue
Increased employee retention
Numerous thefts and breaches across data and security.
Information leaks

How is verification procured with the help of a reference point?

According to a 2020 report, over 130 million Internet-borne threats were blocked globally, and over 7.7 million incidents of server attack were reported.
The above statistics represent that though verification is a dreary process but obligatory that helps businesses stay in tune with the reality of the market scenario and cybercrime.

With the help of a reference point (i.e., certain citing and provisions), background checks are performed to identify and prevent identity thefts, criminal and terror intervention, data contravention. Other verifications are clarification of invoices for their funding, email verification to avoid phishing attacks, etc.
Moreover, reference point comes to the rescue of software applications’ development to ensure its safe/muscular build, reliability, etc.

This includes:

High-level requirement walkthroughs, quality reviews.
Inspection of critical files such as DLL prevents their removal, deletion or modification by an alienated source.
Termination of troublesome third-party services, etc.

Five ways ProofEasy provides a reliable reference point for verification

Combination of blockchain and hash technologies for a secure, centralised database.
Businesses stay the course with the billion-dollar IoT industry backing up their resources and providing a cloud environment. However, as IoT devices connect multiple enterprises across the cloud, data and transactions’ security holds high significance.

To corroborate the system invulnerability, ProofEasy combines blockchain technology and hash functions to:

Protect password and authenticate documents.
Secure and encrypt the server traffic and prevent any file corruption.
Establish a secure, centralised ecosystem without the existence of enterprise-level software.

Patented VeriDoc Global’s QR Code solution
ProofEasy gives you the benefit of an entrusted reference point with a QR code scanning solution’s assistance.

The reliable advantages of this scanning method are:

Perform it in real-time for deleting the chances of any mortgage/land documents, birth certificates fraud, etc.
Usage of the public-key cryptography method
Applying a unique hash function.

Now you scan your document and validate it against the actual record once it gets displayed on the screen.

Immutable Blockchain Technology to block third party need
A traditional method such as verification by third party alliances has been found to impart tampering in contracts and deprived integrity.
But ProofEasy takes the responsibility of reviving your ecosystems and storing the documents with the irreversible blockchain method. The data of the enterprise is stored in secure blocks with respective timestamps. The visibility and accessibility of these data blocks are only for the administrators.

Secure Data transfer with a ProofEasy Mobile App
ProofEasy’s mobile app adds the following reference edges to your app:

Boosted Brand Value.
Facilitation of Custom-in application verification
High alerts of unusual activity.
Marketing Requirement Notifications.

Custom Integration
ProofEasy uses APIs and embeds/integrates their versatility as reference points to the enterprise’s existing cloud environment, which entails the seamless flow of documents within the system.

This integration governs legal, real estate, financial and bank-related contractual documents and eliminates counterfeit products. This also monitors document access controls. Moreover, it provides an edge for enough customisation of workflow and direct storage of data on your server.

Conclusion

As claimed by multiple sources, identity verification market revenue is predicted to grow from 4.93 billion in 2017 to more than 18 billion in 2027. Similarly, other verification areas are forecasted to increase with an approximate amount. With ProofEasy’s trustworthy and adept reference points, businesses in any sector can save themselves from any verification harm and achieve the following:

Immutable defence again any cyber threat.
On-premise verification process with no additional infrastructure investments.
Cloud/hybrid environments without the presence of vendor lock-ins.
Integrated Platform API layers for greater control and security over data.

Now without any delay, secure your business and achieve its goals with stress-free verification processes and get ProofEasy’s assistance at every step.