Document and contract authentication has been a part of modern society for decades.
A 100 dollar bill is a great example. It has a serial number, and anti-counterfeiting features which together ensure that this is an authentic document. That authentication of paper money is so effective that 1.2 Trillion dollars worth of 100 dollar bills are in circulation around the world for use in commerce and ATMs. ATMs can verify these documents through their unique security features.
Blockchain authentication for documents and contracts works much the same way. But instead of physical features, the authenticating hash, is digital, and unique to every document. Just like standardized authentication has enabled a global network of ATMs to process paper money all over the world, standardized authentication for legal documents and contracts can give rise to what we call “Ecosystem Document and Contract Automation”.
Using Integra Ledger to authenticate documents and contracts, much like the anti-counterfeiting features of a $100 bill, you gain the ability for individual computer programs to read and extract the authenticated data and automate the data entry process. This saves countless hours and dollars, and ensures authenticity and accuracy.
It doesn’t have to stop there, this network-based approach to authenticating data means that no matter your organization, no matter the software you use, you can add Integra document and contract authentication and enable new efficiencies and cost savings through automation.