Blockchain and timestamp. How trust is created


blockchain can apply timestamp

We know that blockchain, can apply timestamp to a digital data, in order to increase trust and agreements even between parties who do not know each other.

But how is it possible that the Blockchain and law, marry towards a new paradigm?

In the Blockchain, through the hash of a digital document, information can be recorded, paying for a transaction in a process known as tokenization.

If the blockchain is public and its acceptance is through nodes distributed in the network, the time-stamp unequivocally attests that at that instant the document has that content.

In this sense, the hash of the document must never be tampered with and the organization that holds it must carefully preserve the original.

Intellectual effort and censorship how blockchain can apply timestamp

More and more often we see fraudulent use of information, we are not always sure of the sources and the classic copy-paste that does not mention the source (!), nor the author, is common, mortifying the intellectual effort and research work.

If a writer, or a journalist from a highly censored country, were to put an item on the blockchain, the government or any censorship body could not remove it, no one could intervene, and although the writer would be punished, the content would remain eternal on the blockchain, in memory and on view to anyone.

I recently read in a newspaper that an influencer was claiming to be a graduate in financial economics, giving out training courses on the subject and giving interviews in which she professed to be an economist. The problem is that she had never obtained a degree or any other certificate attesting to her status.

By uploading his certificate or the hash of the document to the blockchain, he could make his skills immutable and create a Trust channel with the public.

A school could decide to certify the diplomas of its students on the Blockchain, certifying the HASH for each one, appropriately stored in the cloud, while others could decide to upload entire documents (diplomas, research, studies), of each student or group of students, directly on the Blockchain.

Types of Blockchains

The main difficulty in creating a channel of trust on the blockchain, is often linked to its technological aspect, i.e. how it has been designed and implemented: in particular in the type of algorithm and block size, which limit its use in terms of uploads and above all costs.

However, there are some blockchains that natively allow the uploading of files; the BSV blockchain for example is one such blockchain, and thanks to the third-party service add.bico it is possible to upload documents directly for a fee.

Any content on add.bico.media, supports a wide range of formats and there is no need to predict how the data will be stored on the bitcoin bsv blockchain. Only the exact transaction ID, also known as TX or TXID, is needed to identify the correct content.

Also Takamaka’s Blockchain has the right features to meet this kind of need and unlike BSV, the native wallet allows direct file uploads and cost certainty because before each transaction you always know exactly how much you are going to spend to upload the document.

Takamaka’s Blockchain solution would also allow digital content of any kind to be uploaded, from memos, to contracts, to delivery notes, to certifications, to analyses and medical records, and much more besides, and in all these areas it allows unequivocal proof of the information entered, which remains indelible and eternal in the blocks of a distributed public register, but open to all.

But if, instead of a document, we could insert a photograph or register a logo, an entire work, what formal value would this process have and what paradigm would it allow us to construct in the area of relations of trust, the value chain and the distribution of information?

Transaction Hash: aH2yg1YCTfaVI4-nzFI0H9hHKblMVm5FbiUp-SMAZkg.

In both cases, what added value would that diploma have and what effectiveness in terms of TRUST could the graduate claim when looking for a job or validating their skills?

Place a file in The Blockchain with one click

Download the Wallet directly from the Takamaka.io website, both desktop and mobile (iOS and Android versions).

📌 From version desktop for example, select Text & Files in the left panel, here you have three options for uploading.

blockchain can apply timestamp
Text & Files

📌 Choose the “Upload Generic File”, if you want to upload a document to Takamaka Blockchain.

👉 N.b >> Above 5 MB the upload is actually not supported.

Visit https://takamaka.dev/docs/wallet_guide
Stay in touch


Subscribe to our newsletter

Your emaill address should be use only for updating you on our articles, in the respect of the privacy law

Share post:

More like this

Why Digital Real Estate is Not Just the Metaverse

From virtual reality, to transforming how we interact and communicate on social media, millions of people around the globe are flocking to the next "gold rush."

Now You Can Use NFTs to Purchase Real Estate

Virtual real estate refers to land or property that can be purchased within these environments or games. These digital environments, like the real world, are built with NFT houses, or you can invest in a single NFT apartment in an NFT building.

The Metaverse and Its Use Cases

The metaverse, like the real world, offers an experience to all of its users. While they do not correspond to real-world items, metaverses offer virtual experiences with a variety of items.

Leveraging Managed Services

MSPs are used as strategic partners to improve the operational efficiency of businesses of all sizes, from small and medium-sized (SMBs) to government agencies and nonprofit organizations.