40 companies have used Shanghai’s blockchain-powered notary platform to deal with over 3,000 instances since its launch in January.
In accordance with Jiemian, the “Hui Cun” platform (which is managed by Shanghai Xuhui Notary Public) is a blockchain-based digital knowledge storage protocol that workouts notarization features. It shops photos, movies, and display recordings on the platform through a blockchain network. These recordsdata are then preserved to be used in litigation.
Shanghai’s Xuhui Notary Public Workplace declare that the platform permits them transparently protect proof, and drop notarization prices by a median of 44%.
Pan Hao, director of the Xuhui Notary Public Workplace, commented on the blockchain platform:
“The digital proof saved on the Hui Cun platform, as a result of its authenticity is assured, additionally offers a platform for the courtroom to advertise additional the appliance of latest applied sciences within the assortment of proof, discover and analysis to unravel the authenticity of proof in proof, and assist to advertise the courtroom to crack Mental property details are troublesome to search out out.”
Again in June, authorities of Suzhou, China additionally announced a blockchain-powered pilot program that may present the area with notary providers. This system allegedly goals to assist tens of millions of residents entry authorized and authorities places of work through the web, and covers providers associated to non-public freedom, life, well being, property rights, and extra.