DocOnChain and Blockchain for legal
What the legal industry should expect from Doconchain?
Doconchain is the provider of ‘DOC Paperless’ a suite of solutions blockchain protected that support a secure transition to digital and paperless.
The pandemic is changing the game for every industry, including law firms and in house legal teams. Video conference, digital documents and e-signatures, virtual notaries and e-filing are becoming widespread but at the same time, security, trust and privacy are also becoming key factors to consider when going digital.
It is where Doconchain and blockchain are coming...
Blockchain and its decentralized ledger technology is taking by storm the world of internet for enterprises and governments boosted by the pandemic. After the age of e-information with social networks we enter in the age of e-trust blockchain powered.
Blockchain and smart contracts will play an important role in future legal practice and it is time for legal departments to take a deeper dive into blockchain so they can be prepared for what is to come.
blockchain is not the solution for every kind of problems. However, in some cases, a private blockchain may be useful because the technology makes it hard to edit data once it has been recorded on the blockchain; and, by virtue of the use of a new generation of trustable digital signatures, helps to bring together disparate parties for better coordination and sharing of data.
Doconchain offers legal firms an access to an end to end suite of solutions that allows, in a secure environment blockchain managed, to:
- Prepare documents (e.g. contracts, agreements) with teams and clients using tools (messaging and video conference solutions) via DOC Collaboration accessible in one place,
- Digitally sign (or approve) documents with DOC Sign, a new generation of secure and trustable e-signatures managed by blockchain and NFT (Non Fungible Token) which can be recorded as unique transactions in an incorruptible digital ledger when signatures are added to a document.
- Manage and exchange tamper-proof e-documents (originals and copies) with an innovative document passport DOC Passport that records also in the blockchain ledger all event associated to a document (shown via an incorruptible audit trail) and provide access to verifiable elements to identify document forged.
- Secure the document storage with DOC Storage a security layer based on a DFS solution (distributed Files Storage) blockchain managed that automatically fragment a document completed before to encrypt and duplicate the fragments and store them on a network of nodes that can be itself stored on client storage systems.
The platform and the permissioned blockchain are based on a library of APIs and can be customized to integrate document management and storage systems.
DOC Notary is coming
DocOnChain is launching soon the beta of DOC Notary, in Philippines first, as a pilot. The platform of solutions will respect local law and regulation and will be deployed in 2 steps. First a hybrid version that follow the actual regulation authorizing to do the meeting between notary and document signatories via recorded video conferences while providing paper based documents notarized and later, when authorized by the supreme court, a full e-notarization solution.
Benefits of notarization blockchain powered
The primary goal of notarization is to certify the authenticity of any document. A blockchain technology by definition can leverage the solutions to achieve this goal seamlessly and quickly.
The permissioned blockchain powered by DOC Notary provides a perfect solution to automate notarizations. The blockchain serves as immutable and incorruptible ledger for notarized records and documents with timestamps. In this way, any unauthorized user will not be able to edit nor delete portions of the document.
DOC Notary blockchain solution can ensure the integrity of data as soon as it enters the chain. It provides functionalities, including tampering-resistance, non-repudiation, and traceability.
If you are a law firm, contact us for a demo of DOC Paperless for the legal sector and to get more information about DOC Notary.
Contact: Khara (at) Doconchain (dot) io