Proof of Immutability

Proof of immutability is one of the underlying aspects of Blockchain which embraces the use of this technology beyond just finance.

HOW IT WORKS

We attach a sort of digital footprint to each contract. This document’s footprint is then inserted into the distributed registry, not the document itself. The footprint is unique to each document, so the slightest modification of the data of a contract completely changes its digital footprint.

Document from George Mentes_AXA Car insurance

$
"

Creation a digital footprint

The digital footprint is then inserted in the Blockchain

*Blockchain : Distributed and decentralized. Synchronised peer to peer system

The distributed registry makes it possible to verify the integrity of a document by comparing its footprint with the one which was inserted in the first place. If the footprint generated differs from when it was created then this proves the data has been changed.

We take the footprint and verify when it was put in the distributed ledger.

If the digital footprint does not match we will get an error message. That means our document has been modified or is not the correct one.

 You also cannot regenerate the contract with the just the foot print as this only works one way. The footprint itself enables you to verify the contract. This means that all the documents placed in our database are certified and we are then able to make you the promise that your documents will not be modified.

Proof of immutability has many different types of usage:

  • Show data ownership without revealing actual data.
  • Verifies the data integrity
  • Timestamp data
  • Proves the ownership of that data
  • No third party is trusted

This will prove useful in a variety of sectors:

  • Notary and legal services
  • Administrative work
  • Intellectual property cases
  • Supply chain management
  • Luxury product certification
  • Proof of identity and management
  • College degree authentication
  • Much more in the future.

The end goal is to make data verifiable without a trusted third party.

“Proof of Immutability brings trust to data.”

{

“We’re trying to unleash the creativity of an entire generation. We’re building a system, on top of which a thousand applications that require trust can be built”

-Andrea M. Antonopoulos

A bit of vocabulary

Ledger

Book or other collection of financial accounts.

Distributed Ledger

A distributed ledger (also called a shared ledger or DLT) is a consensus of replicated, shared, and synchronized digital data geographically. Spread across multiple sites, countries, or institutions. Theret is no central administrator or centralized data storage.

Stamp

An instrument for stamping a pattern or mark, in particular an engraved or inked block or die.

Timestamp

A record of the time of occurrence of a particular event.

Blockchain Simply Explained

Centralized

Blockchain