At the Forefront of Innovations: SkyWay Introduces Blockchain App Stampery

At the Forefront of Innovations: SkyWay Introduces Blockchain App Stampery

29 April 2017 29515

SkyWay Company provides the possibility of digital witnessing (certifying) of documents using the blockchain technology. This innovation is experimental and optional for all, it may be resorted to at will. Digital certification (a simple type of a “smart contract”) is done using the special service Stampery.

Stampery is a service that allows to automatically witness a submitted electronic document. Stampery is rapidly gaining popularity all over the world: it allows to create unchangeable and verifiable documents on the blockchains of bitcoin and Ethereum. The service has already been successfully integrated with the Microsoft Office software package, reports the Company’s website.

Russia: Application of Blockchain by the Central Bank and State Registration Service

The Central Bank of the Russian Federation has already sent the proposal to create an electronic database of notarized powers of attorney based on the blockchain technology to the relevant ministries. This refers to the inclusion of this project in the road map “Digital economy”: it is proposed “to create a distributed data network based on the blockchain for verification of powers of attorney or to form a Central database of notarized powers of attorney to be maintained by the notarial system.

Today, when a person comes to a Bank with a notarized power of attorney, the maximum that the lender can do is to ask some time for checking the document. If a notary, for example, does not answer the phone-call and does not confirm the authenticity of the proxy, there is no legal reason not to trust that paper, the Bank is obliged to perform the operation. As a rule, banks detect counterfeit notarial powers of attorney, however, the issue of determining their authenticity is open.

A Centralized register of powers of attorney in the network has been already created, but it is vulnerable to hacker or DDoS-attacks. If attackers want to withdraw a large amount of funds using a fake power of attorney, they will deactivate the server where the data is stored at the right time with the help of a DDoS- attack. Employees will not be able to check the authenticity of the document, and they will have to give out money; the blockchain technology makes such an attack impossible.

In addition, the initiative to use the blockchain on the secondary real estate market came from the Federal Service for State Registration, Cadastre and Cartography.

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