Wan-wan: Blockchain can help notary industry innovation and reform, lay the foundation for the Internet notary

Reporter: pencil boxn

Recently, Wanxiang block chain focus on developer services one-stop block chain vertical BaaS platform – Wan Yun in Shanghai and the notary association of industry conferences, after a detailed study to discuss and collect evidence and write “Notary Blockchain Research Report. ” The report analyzes the business characteristics and demands of the current notary industry. Based on the characteristics of blockchain technology, this report analyzes the possibility and innovation of combining traditional and notarized business with blockchain technology, The idea and propose solutions.n
With the rapid development of science and technology, every industry strives to seize the opportunities of the times and strive to make changes using new technologies, expanding its market share and providing better services to the public. Notarization is a traditional industry. In July 2017, the Ministry of Justice held a national conference on notarization work. At the meeting, Zhang Jun, Minister of Justice, proposed to strictly control the quality of notarization and promote the reform and innovation in notarized work. At the seminar on the second Sino-French notary business jointly held by the Beijing Notary Association and the Paris Notary Association in November this year, Hao Chi Yong, president of China Notary Association, further emphasized the need to promote the reform and development of the notary public and carry out a new round of reform and innovation . The French notary also brought great expectations within the EU for the potential of the blockchain in the notary industry and showed that blockchain notarization within the EU in 2018 may first landed in Italy where luxuries are clustered and Gucci is likely Become the most direct beneficiary of this project. This shows that both the domestic and foreign notary industries have put forward the demand and determination for the reform of the industry, and all of them have noticed the same aim in the emerging block-chain industry.n
Blockchain, as one of the most popular emerging technologies, guarantees a series of high-tech combination of distributed data storage, consensus algorithm, encryption algorithm and peer-to-peer transmission network to ensure that data can not be tampered with and permanently stored, and also has distribution Trust, transparency, security and other characteristics, is considered to be able to subvert and innovate the current business model, governance environment, business processes, organizational structure. Has now begun to be used in financial audit, supply chain finance, trade finance, digital certification, data security and protection, e-government and other fields.n
So, blockchain technology can also be applied to the notary business, to bring its innovative opportunities?n
Through field research, case studies and round-table discussions, Wan Yun’s research team conducted an internal and external analysis of the current state of the notary industry and sorted out the main current demands and business ache of the notary business. For example, the pressure of data storage is the key issue currently encountered: as the amount of notarized data increases, the central database under the current centralized system framework suffers from the dual pressures of increasing data storage and security maintenance. In the notary industry, the notary industry The communication and information sharing and information cooperation with other departments are not enough; the business area is facing part of the decline of original business and cost adjustment caused by the national policy adjustment; the business of electronic deposit and withdrawal business is challenged by the third-party depository company; The Internet in the economic field of the depth of promotion, Internet-based economic disputes are on the rise, the traditional notary services pose serious challenges, but by geographical and technical limitations, the remote Internet notarization is difficult to achieve. These factors indirectly led to the brain drain of the notary public. The occasional false accusation phenomenon also had a negative impact on the notarial profession and social credibility.n
Thomas Peters, a management guru, said:n
nThe distance has disappeared, either innovation, or death. If we want to maintain the existing status in the industry, we must keep pace with the times and will not be innovated will be eliminated, it will become a historical monumentn
nClear these demands, Wan Yun research team found that the characteristics of blockchain blockchain technology is to solve these pain points of the most elegant program. Once the notary industry owns and uses its own blockchain, it can achieve “double trust and unity” through the “trust-building blockchain” combined with the national credibility granted by national law, and achieve a double increase in “policy + technology” letter. The blockchain can not be tampered with, solving the problem of notarized business in depositing evidence. At the same time, the de-centralization of blockchain determines its security and scalability. The problem of notarized data storage lies in the blockchain Technology can be easily solved. In addition, the blockchain can promote information sharing and sharing, further strengthen the coordination and communication between the notary office and external agencies, provide effective information verification means for handling notary businesses, and achieve responsibility traceability and improve the quality and credibility of notary public works.n
Wan Yun research team in the report on the establishment of notarized blockchain project concept. For example, in the field of intellectual property and notary publicity, the traditional registration of copyright needs to be approved by a special registration authority. There are many aspects, costs are high, and time-consuming. At the same time, there are problems in realization of right-to-use, supply and demand mismatch, The introduction will greatly enhance the efficiency of IP services. The use of blockchain technology, you can use the timestamp, hash algorithm to quickly confirm the work, to prove a text, video, audio, such as the existence, authenticity and uniqueness, at the same time on the copyright of the time order has been made, Notary Office Confirmation of entitlements can be done through the network with blockchain interfaces, so that real-time confirmation can be done, which increases the efficiency of confirming. From the perspective of safeguarding rights, relevant evidences are electronically uploaded into the blockchain so as to ensure that the infringing content can not be tampered with, greatly improving the efficiency of obtaining evidence and safeguarding rights. Finally, the report also said cautiously: Although the blockchain is a good tool, the development of the notary industry in the future will require the participation of new technologies such as big data and the Internet of Things. As a result, the value of notarized data will be constantly explored and more intelligent Wisdom notarization “in order to infuse new vitality and vitality into the traditional and ancient business of notarization.n
Through this report, it is easy to see that the combination of the “trust machine” blockchain with the country’s credibility will result in a win-win combination of strong and powerful results as well as new developments in reform and innovation for the notary public.n
The publisher of this report, Wan Wan, is the first Blockchain as a Service in China. It is also a neutral platform for blockchain innovation. Wan Yun supports all the mainstream technology of blockchain such as Stellar, Factom, Matrix BCOS, Qtum and Fun Chain, and provides a whole set of blockchain infrastructure to communities, enterprises and developers by combining blockchain technology and cloud computing services. Environment, API services and development tools. Through professional, convenient and flexible low-level services, Wanyun is committed to lowering the barrier to application development of blockchain, reducing development and operating costs for users, and reducing repetitive tasks, so as to promote the real implementation of blockchain business.n

Leave a Reply

Your email address will not be published. Required fields are marked *