The registration of information to preserve property rights is possible through micropayments, which are less than USD $ 0.03
More and more people know Bitcoin Cash as a digital currency that has obtained a good commercial reputation, but few know all the properties it has.
A service provided by the Bitcoin.com team allows users to notarize documents and files in the digital currency platform to guarantee the right of ownership without expending a lot of money as it happens with the traditional ways.
Photos or video files could be stored in the Bitcoin Cash (BCH) blockchain, linking it to the time of submission. The tool acts like a digital record book that facilitates the verification of documents at a later stage.
With Notary, the cost of each operation is only about 0.00005 BCH, the equivalent of less than USD $ 0.03. This application is an alternative that takes advantage of the features offered by the blockchain technology to register files in exchange for very accessible prices.
One of the advantages of Bitcoin Cash is Bitcoin Cash’s notary service, which consists in allowing users of that network to assign a HASH on the cryptocurrency blockchain platform to an image, document or file to guarantee its authenticity or safeguard the ownership of a file.
This notarial tool is available on the Notary.Bitcoin.com website, where interested parties can use it by making micropayments and without the need to reveal confidential information of the user.
How does it Work?
To make use of this service, users must enter the Bitcoin Cash page and locate the file they wish to notarize in the tab called “Notarize”.
As a second step, the user must make a payment equivalent to about 0.00005 BCH or USD $ 0.03. Then, the service will create a digital test that is registered in the Bitcoin Cash blockchain. This includes a time stamp that sets the exact moment of registration in the network to prevent counterfeiting.
When the operation is ready, the HASH remains as a record to verify the authenticity of the files in the tab identified as “Verify”.
The process to authenticate a file is very similar to the one of registration. But, in this case, the user must index the image, document or file in the respective space of the platform indicated for this. The file will not be uploaded to the Bitcoin.com server.
If the file matches the originally registered version, the service redirects the users to a section where they can verify that the document was duly notarized and indicates that it is the authentic version of that file. This is also in case the official version gets lost.
The user will be able to see his proof on the blockchain by checking the transaction in a block explorer.
Different countries use blockchain technology and its registration qualities to store information, avoid plagiarism and even preserve copyright, thanks to the fact that the blockchain also keeps the data referring to the creation date and the course followed by a text or object.
By María Victoria Rodríguez