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.

Solve Legal Issues with Blockchain Technology

Posted on November 7, 2022

The legal industry is often seen as ready for disruption and, in the same sentence, criticized for being sluggish to welcome change. It is high time that the legal sector should consider blockchain technology at all levels. Transactions that Blockchain completes are secure, transparent, and immutable by nature. It is not hard to recognize this technology’s influence on the legal sector. Moreover, with Blockchain encrypted QR code, you can make legal documents immutable and easily accessible. And all this is just a demo.

Blockchain Smart Contracts

Blockchain technology holds massive potential in the changing legal landscape, mainly automating routine legal processes through smart contracts. Smart contracts include scripted logic, terms and conditions that permit the automatic execution of general contracts, like the renewal of any lease agreement or decision of a non-disclosure agreement. All this does not require human oversight or any negotiations.

With smart contracts, Blockchain even establishes the potential for the automatic transmission of assets between different participants on the peer-to-peer network. The preprogramed rules are obeyed without requiring a controlling, central deed of registries to authenticate the transfer of ownership. Hence, it saves time and costs and permits convenient transfers and better customer relations.

A Solution to Security Concerns in the Legal Sector

In Blockchain, a network of computers stores copies of the information. Since it is decentralized, hackers have an extremely tough time manipulating the stored information in this format than with conventional data storage methods. Transaction verification takes place through computer networking.

Blockchain technology is strong. Data gets broken down and distributed throughout the entire network of computers, guaranteeing that each one has a full copy of the ledger. One or even two computers going down is insignificant. The data itself is redundantly backed up.

However, Blockchain’s decentralized yet publicly accessible format can make some people believe that personal data is not protected. Such is not the case. Blockchain promises individual privacy better than any other information-hosting format by permitting users to control their data. Individuals can securely save their data by making blockchain encrypted QR code. Hence, they can share the Qr code with someone if they want them to access the data. Nobody can tamper with such data as the QR code includes a unique hash value that has to match up with the hash value on the blockchain network. Hence, there remains easy yet safe access to data.

Ensures Complete Transparency

Compliance gets built into blockchain-based contracts, so there is no place for doubt. Blockchains use distributed ledger technology and produce a shared ledger available to all interested parties. Hence, everyone would have a check on the legal documents, case studies and more. Nothing can go unnoticed, and everyone will enjoy complete transparency.

Proper Chain of Custody

The highly protected nature of Blockchain makes it much more useful for establishing the chain of custody. With Blockchain, attorneys can track the digital movements of lastingly stored documents without fear of tampering or removal. They can also use it for the digital tagging of physical items. Moreover, one can use GPS tracking to log the different movements, generating undisputable evidence for court proceedings.

The Bottom Line

Blockchain technology has solutions for different legal sector issues. The only need is to adapt the tech and try it out. The key for legal sector professionals is to make sure they have a foot in the door with this technology so that when other types of more traditional openings shut down, they have somewhere constructive and effective to go. If you want to explore blockchain solutions for legal issues; contact experts at ProofEasy and enjoy complete assistance.