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Case Study of the Day: E-Attestation- Role of Emerging Technologies in E-Governance

Background: A blockchain-based system for e-Attestation can serve as a verification clearinghouse for the required documents against the current system of Notary Attestation.

About e-Attestation using Blockchain

  • Existing Notary Process:
Existing Notary Process
Existing Notary Process
  • The current challenges using Notary/Physical system of Attestation are:
    • High Operational Cost, as it involves repeated processes for compliance, thereby impacting productivity of personnel.
    • Inflexible Technology leading to errors, and not able to adapt to changing regulatory requirements.
    • Poor Customer Experience due to manual errors, delays in transaction.
  • A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
  • Solution using blockchain:
    • An Attestations-Chain stores the attested documents along with reference keys that can be used for document verification.
    • Using a wallet application, linked to Digi Locker, users can register and submit documents for attestation as well as submit attested documents that require document verification.
    • Notaries (who provide attestation service) can verify the documents and attest the documents after which the document is hashed and timestamped and stored in the blockchain.
    •  Services that require verification of document, can access the blockchain for verification confirmation.
attestation-and-verification-process
attestation-and-verification-process

Benefits of Implementing Blockchain Technology in Attestation Process

  • Improved Customer Experience as customers need not share all the original physical documents.
  • Improved Transparency/Enhanced Compliance as all steps in the Blockchain can easily be traced and shared with auditors/regulators when required.
  • Initial capital Investment, could result in cost reduction in longer run because of reduced redundancy in the verification process for all parties.

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FAQs

What is Blockchain?

A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

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