everis has recently released StampChain a DLT solution based on R3 Corda technology that enables verifying the truthfulness and veracity of certificates, licenses, diplomas or any official document. Users can safely store pertinent documents, ranging from event certification to academic & medical records, into the non-centralised and cryptographically-backed Corda platform to prevent registered information from being manipulated or forged.
The Real Problem
Today´s methods for certifying documents´ content rely on expensive, heterogeneous and time-consuming third party validations. As a result, the legitimacy of the great majority of papers is rarely verified. This creates a real risk for example, how do we know that all the information included in a CV is accurate? Or how do we know if a land registry title is still valid and the certificate we are looking at is the original one?
You will be surprised to know that a pilot was able to fly passenger jets for 13 years without a license  and a former student was able to gain admission to Harvard and benefit from more than $40,000 in grants by falsifying letters of recommendations, transcripts and SAT scores . The lack of low-cost, homogeneous and instantaneous certificate validation processes leaves no other option than relying on blind trust, and as these examples illustrate, this does not always bring the best case scenario. So… why should we rely on blind trust when we can rely on science?
everis has set the new smart way to notarise documents; StampChain. StampChain allows users to verify the existence, integrity and ownership of any document in a standardised manner with irrefutable and inexpensive proof. The objective is to give institutions the ability to verify the legitimacy of the documents through a GDPR compliant DLT platform. Since every paper has an associated cryptographic hash, Blockchain technology can be used to prove the certificate´s originality.
StampChain follows a similar procedure to how an identity is verified on a blockchain platform. Firstly, the user registers the paper on the R3 Corda blockchain network, accredited by his/her digital identity. Once this is completed, the user can easily share selected information with relevant institutions that require validating documents’ legitimacy. Third parties can also access data upon request but only after user authorisation. As a result, users are given sovereign control over their data.
Corda’s DLT platform, deployed within existing legal frameworks and built over sophisticated consensus algorithms, prevents registered information from being manipulated and certifies that official documents are tamper-evident and immutable. Moreover, the decentralised nature of the platform and the advanced cryptographic techniques used make the solution highly secure.
StampChain aims to transform traditional certificate validation methods by including the following features:
- Legal Validity: Blockchain-based hashing and time stamping ensure irrefutable evidence of the existence and integrity of data. Blind trust is now replaced with mathematical proof.
- Privacy: Data can only be accessed by authorised parties. No personal information is stored on the blockchain, a cryptographic hash is extracted and published into the blockchain.
- Traceability: Our solution enables monitoring data’s integrity in real time. Having the ability to demonstrate that data has not been tampered is crucial.
- Security: Information is secured by the most advanced cryptographic techniques.
- Proof of Existence: Users can seamlessly and irrefutably prove the exact moment data existed for legal, compliance and business purposes.
everis is leveraging Blockchain to allow documents’ legitimacy verification in an expensive and user-friendly manner. Now is your time to choose…blind trust or mathematical proof?