The oneNDA project is a remarkable collaboration among leading organizations around the world to simplify and standardize one of the most common types of contracts - NDAs.
In this video, we’ll demonstrate how you can make oneNDA even better by using the Integra Ledger blockchain to tokenize and automate them. A token is a combination of Integra ID - a randomized numerical code - and a hash, which serves as a digital fingerprint for your document. This becomes a timestamped, digital record that constitutes proof of existence for the NDA. No information from the NDA is stored on Integra.
First, we’ll start with a template from OneNDA. You can find it at oneNDA.org
Next, navigate to nda.integraledger.com
Here, you can drag the template from OneNDA.
Integra will automatically recognize the PDF and generate a simple web form. Complete the form and click here to Tokenize. This simply means that a unique digital identity of your document is recorded permanently on the Integra Ledger Blockchain.
Upon confirmation, your answers will be merged into the oneNDA template form, after which a unique Integra ID will be generated and recorded on the Integra Ledger blockchain, along with the unique hash of the document.
Just the ID and the hash. Integra ID is a randomized numerical code that is assigned to the document, and the hash is like a digital fingerprint. Together, the ID and hash form a blockchain token of the completed oneNDA - a unique, timestamped, digital record that constitutes proof of existence of the NDA.
Once completed, you’ll see a QR code in the upper right corner of the document. You can scan it camera over it, or click on it to open the VerifiedbyIntegra web page, which will confirm that the NDA was indeed tokenized on Integra.
When you tokenize a completed oneNDA, the existence and authenticity of the document can be confirmed by any party in possession of a copy of it, no matter where it is stored or what software is used to store or manage it.
Additionally, the tokenization of the document allows the document to be automated into virtually any document or contract management software, reducing errors, saving time, and saving money.
Tokenizing oneNDAs on the Integra Ledger blockchain is a simple way to add contract authentication and universal contract automation features to the already ground-breaking oneNDA project.
We invite you to try it yourself.