Stampery, a service that certifies records and documents on the blockchain, says lawyers working with sensitive documents are one of its main user groups, according to International Business Times. The other two main groups are creatives looking to establish ownership rights and companies that generate prior…
Stampery, a service that certifies records and documents on the blockchain, says lawyers working with sensitive documents are one of its main user groups, according to International Business Times. The other two main groups are creatives looking to establish ownership rights and companies that generate prior art of intellectual property.
Lawyers receive a lot of documents and have to do a lot of due diligence, including getting documents notarized.
By using Stampery, they can drag and drop zip documents to Stampery rather than sending them in a CD to a notary.
Stampery provides irrefutable proof of the documents’ existence and the day they were received.
Content certified on the blockchain, including emails, cannot be changed, deleted or forged, according to Stampery’s website.
Daniele Levi, CEO of the San Francisco, Calif.-based company, said distributed ledger technology changes the need to trust someone who has been given power from a governmental authority to certify something. He said it is now possible to have “100% truth with 100% trust.”
The service is free to users who notarize less than 10 items monthly. There is a $9.90 charge up to 1,000 items per month.
Stampery creates a hash of documents, then uses the OP_RETURN field within bitcoin script to link the data to the blockchain.
The company uses cryptography algorithms to register unique identification for content that a user stamps. It is not possible to extract the content from an identifier; only the user can access his or her certified content.
Levi said users can link government IDs to the blockchain by taking a picture of the IDs. A user can also generate a cryptographic signature linked to their identification information and embed the signature on the blockchain. Stampery has a system that Levi said makes it impossible for anyone other than the user to notarize documents in their name.
The company will introduce an email flagging system next month that will provide proof on the blockchain that the email was opened by the recipient, said Levi. If there is content the sender wants the recipient to agree to, they will be able to agree by clicking a button. The blockchain will hold agreements related to specific emails.
Since launching in September at the Techcrunch Disrupt SF Battlefield in San Francisco, Calif., the company has about 1,000 users and is growing.
The company recently closed a $600,000 financing round led by Draper & Associates, with Boost VC, Blockchain Capital and angel investor Di-Ann Eisnor, head of growth at Waze, a travel app.
Featured image from Shutterstock.
Last modified: January 25, 2020 11:11 PM UTC