What Is Notarization on Blockchain?
Notarization on the blockchain refers to securely recording and verifying information in a tamper-proof and time-stamped manner using blockchain technology.
As a decentralized and transparent system, the blockchain ensures the integrity and authenticity of recorded data without a central authority.
In a blockchain, data is organized into blocks and protected using cryptographic solid mechanisms that make it nearly impossible to modify past blocks.
This immutability allows for the verification of when and by whom specific data was recorded.
Anyone can access and validate this information on a public blockchain without relying on third-party intermediaries, ensuring transparency and trust in the technology.
Blockchain-Based Notarization
Notarization on the blockchain has various practical applications.
Another use case is supply chain transparency, where blockchain enables tracking and verification of the movement and status of shipments.
This helps create an electronic trail of events, such as loading and unloading processes, enhancing accountability and efficiency in the supply chain.
Ensuring Secure Authorship Verification
Blockchain also facilitates the secure verification of authorship for timestamped records.
As blockchain stores only public data and relies on cryptographic techniques, authors can prove their identity and association with a particular record without revealing sensitive information.
This ensures the privacy and security of the individuals involved.
Enhancing Data Integrity
Additionally, blockchain enables the verification of the content itself, known as the “what.”
Rather than storing the entire file on the blockchain, a unique fingerprint or cryptographic hash of the data is created.
This fingerprint is small and can be cost-effectively stored on the blockchain. It serves as an anchor for verifying the authenticity of the data, complementing the “who” and “when” aspects of notarization.
Empowering Data Integrity
In essence, notarization on the blockchain leverages the inherent advantages of blockchain technology to create timestamped artifacts.
It enables identifying authors and verifying data integrity in a secure, transparent, and decentralized manner.
Whether performed by a traditional notary or the intended beneficiary, the data remains anchored in time and attributed to its author.