Telefonica launches blockchain document certification service – Ledger Insights

Yesterday, Spanish telecoms agency Telefónica introduced the launch of a blockchain-based certification service by way of its personal TrustOS platform.

The service targets corporates and permits them to authenticate paperwork, transactions or digital content material by producing digital proof of authorship and in addition the truth that the merchandise has not been modified.

Sometimes, dealing with paper paperwork brings about quite a lot of issues. First, they’re inclined to doc forgery and carry the chance of being misplaced or spoiled. Paper document verification additionally usually takes time because the doc issuer can solely achieve this manually.

Telefónica goals to fight this via a blockchain service that mixes the consumer’s digital signature with the doc’s digital fingerprint or hash and a timestamp.

Internally, Telefónica’s authorized division is utilizing the answer. That features utilizing blockchain to maintain a log of emails in case of disputes, though the content material won’t be seen on the blockchain.

“The incorporation of revolutionary applied sciences akin to blockchain within the administration of contracts and authorized documentation, generally, is a key step for the safe digital transformation of firms,” mentioned Luis Prendes, International Head of Authorized Affairs at Telefónica.

Nevertheless, it envisages quite a few different purposes for purchasers, akin to certificates of attendance at coaching programs, proving the authenticity of restricted version merchandise, and logging proof for insurance coverage claims.

By way of know-how, TrustOS is blockchain agnostic. Therefore it’s built-in with a number of blockchain flavors.

Telefónica has been lively within the blockchain sector in two methods. One is selling its TrustOS resolution and cloud internet hosting for blockchain. To that finish, in February of this yr, it partnered with Spain’s Alastria consortium for internet hosting an enterprise blockchain network based mostly on Hyperledger Material. Alastria already supported two Ethereum blockchain flavors.

The second Telefónica exercise space is the usage of blockchain by telecoms corporations for roaming agreements and payments.

In the meantime, this week, the Indian state of Maharashtra introduced a brand new blockchain utility for doc authentication, specializing in the issuance of educational certificates.