In this case study, we will explore using the Cyberium public notary smart contract to register digital assets on the Blockchain.
What is a Public Notary?
A public notary allows you to submit digital documents register on the Blockchain. This can be useful for many different purposes, such as proving ownership of a domain name or website or demonstrating that all parties have signed a contract. To use the Cyberium Public Notary, you must install the Cyberium Wallet and create an account. Then, you will need to deposit some CYM tokens into your account. Finally, you will use the “notarize” function in the wallet to submit your document for registration.
The following is a case study of the use of Cyberium Blockchain in public notarization.
Notarization is the process of certifying the authenticity of a document or signature. Notarization provides third-party validation that a signature is genuine and that the signer had the intent to sign the document. In many jurisdictions, public notaries are legally essential to notarize certain documents, such as deeds, affidavits, and powers of attorney.
The Cyberium Blockchain offers a solution to this problem by providing a decentralized, tamper-proof platform for storing and validating notarized documents. Using the Cyberium Blockchain, Notaries Public can securely store notarized documents, and anyone can easily verify the authenticity of these documents.
How does it work?
When a document is notarized, the Notary Public will create a cryptographic hash of the paper. The document’s hash is computed and compared to the hash stored on the Cyberium Blockchain to verify. This verifies the notarized document’s authenticity. If the two hashes match, the record is not altered since it was notarized. The timestamp proves the notarization of the document within a certain period. The Notary’s public key confirms Notary Public is who they claim to be.
The Cyberium Blockchain offers several benefits for Notaries Public and users of notarized documents.
Notarized documents are tamper-proof. Any attempt to change the document will result in a different hash creation on the Blockchain. This makes it impossible to alter a notarized document without detection.
The Cyberium Blockchain allows Notaries Public to store notarized documents in a central, easily accessible location. This eliminates the need to keep paper copies of notarized documents and makes it easier for users of notarized documents to verify their authenticity.
The Cyberium Blockchain enables Notaries Public to provide a public record of all the documents they have notarized. This increased transparency helps to build trust and confidence in the Notary profession.
The Cyberium Blockchain provides a secure, efficient, and transparent platform for public notarization. Public Notaries use Cyberium Blockchain to store notarized documents. The users of notarized papers use the Blockchain to verify their authenticity. Using the Cyberium Blockchain in public notarization can help build trust and confidence in the Notary profession and make it easier for users of notarized documents to confirm their validity.
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