Forged documents will be a thing of the past with the launch of VeriDoc Limited, an Australian start up that authenticates documents by allowing third parties to inspect the original source using blockchain technology.
According to VeriDoc’s Joint Managing Director Mr Steve Chant this technology is a global first.
“It was our own experience in business that led to the development of the product. We have all questioned the authenticity of a document, whether it be a university transcript or group certificate. Up until now there was no simple way of accurately checking a document.”
VeriDoc is an anti-fraud document verification system that ensures the user is looking at a true and correct document created by the issuer.
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The cryptographically signed ‘VeriDoc’ is verified with a digital imprint being stored permanently on a public blockchain network.
“We had a simple problem to solve however we embarked on a complex journey in the development of our product. With cryptographic information stored inside the QR, the document owner places the code onto the document before it is printed or electronically distributed.
“VeriDoc cryptographically signs the document and not only stores an encrypted version but places the signature into a public permanent-record blockchain. The blockchain therefore creates a public trust anchor because of its permanency and transparency.”
Using any third party QR reader, users can verify the authenticity of a VeriDoc document instantly.
“Individuals or businesses can easily compare the original document with the version they have received,” Mr Chant concluded.
The QR code and associated signature information in blockchain can never be altered therefore it ensures a document’s content is protected. With experts predicting the application for this technology to grow, VeriDoc is currently targeting academic institutions, banks and government agencies.