What Is Notarization on Blockchain?
Notarization on blockchain is a process of verifying the authenticity and integrity of digital documents. It involves using cryptographic techniques to create an immutable record that can be used as evidence in court proceedings or other legal matters. The notarized document is stored on a distributed ledger, such as a blockchain, which provides an additional layer of security and trustworthiness for the data contained within it. This makes it difficult for anyone to tamper with or alter the information without being detected.
The main benefit of notarizing documents on blockchain is that they are secure from tampering and manipulation due to their immutability. Additionally, since all transactions are recorded publicly, there is no need for third-party verification services like banks or lawyers; instead, users can rely solely on the public ledger itself to verify any transaction’s validity. Furthermore, because these records are stored securely across multiple computers around the world, they cannot be lost or destroyed easily if one node fails – making them much more reliable than traditional paper-based methods of storing important documents.