Have you ever bought something used, like a car, and worried if everything will be as good as the person selling to you said it would be? So am I. I have always asked myself how can I protect my own interests and get what I paid for. Once, when I bought a used car, it broke down on my way home from the seller. Before I bought it, the seller said it was in pristine condition….in the end, if I would search for legal help, it would be his word against mine.
To prevent such scenarios we decided to start developing a practical solution to this problem.
The solution is called Notary Platform.
The Notary Platform application for general public enables you to engage in contracts on the go. That means, if you are buying a used car you can simply open Notary Platform mobile app, download a template of the contract and insert your key information. In most cases this would be it, but we took it one step further. For additional safety you have an option to take a photo/video of the state the car is in, and add it to the contract. The last step is to sign the contract with a fingerprint and you are good to go.
After the contract is signed, the application sends copies to both e-mails.
All those data (contract + video/sound/pictures/etc.) are sent through blockchain which creates a hash and corresponding timestamp for the files. The result of this process is enough to prove the time of origin of the digital document and give you an immutable proof in front of the court!
This is just one from the countless examples in which this service can be used. Here are a few more: