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Timestamping digital documents has been around for decades though never more than since the start of the 2020 pandemic. As the demand has increased over the years so has the desire for trusted and secure certification of data. We live in a digital world with companies making the shift from office buildings to remote and hybrid work environments. Consumers have opted to eliminate paper and elect digital options for their personal banking, access of medical records, completion of legal documents and more. This continued digital evolution makes the need for secure timestamping and smart contracts not only highly desired but necessary.
Smart Contracts
Smart contracts are a safe solution to our digital identity needs. Typically used with the support of blockchain technology, smart contracts automate the execution of an agreement or exchange of values between parties without loss of time or intermediary involvement. Smart contracts are far more efficient than traditional contracts and have a higher level of security, making them the perfect solution for any data, including financial records and transactions, legal files, and medical data. Smart contract applications are currently most popular in the real estate, healthcare, investment, and lending industries. Smart contracts are transparent, traceable, and irreversible.
Risk to Privacy & Security
There is risk associated with digital signatures when the timestamp is executed and fails to maintain security and trust. When physical document signatures are completed on paper there is typically a notary present or someone signing off to validate and authorize the date and time the document was signed. Without proper timestamping of the date or time when a digital signature is captured, there is risk of the document eventually being altered, risking privacy and security. The only way to ensure that your digital signature and identity is secure is to apply a trusted timestamp to ensure data integrity.
The use of timestamp technology is not limited to digital documents or payments. Supply chains utilize secure timestamping to track the location, delivery date and time, regulate price, and optimize quality control of products and goods. Timestamps are used in digital media as well for use in PDF documents, spreadsheets, drawings, photos, artwork, literature and books, music, and more.
A Digital Fingerprint
Timestamps are created using hash functions. It is best to think of a hash as a digital fingerprint that is impossible to replicate. When a hash or data is digitally signed, a timestamp is applied and stored with the original data keeping it secure and confidential. The hash value will not match if an attempt to modify the file is executed after the timestamp and signature are applied. Modified or altered data cannot be trusted. The use of a trusted timestamp would prevent this kind of tampering and breach of security from happening.
HeraSoft has created a tamper-proof timestamping solution called HeraStamp™. The HeraStamp™ timestamp signature ensures the authenticity of smart contracts or any kind of data and permanently logs all records using an advanced hashing algorithm.
Like other HeraSoft products, with HeraStamp™ each movement and exchange of data is incorruptibly recorded ensuring the data’s integrity. All counterfeit data is easily identifiable, and copies of log entries are recorded on multiple blockchains including the world’s strongest timestamp, Bitcoin, simultaneously.
Learn more about how we can help
HeraSoft’s next generation software offers a variety of products and services to improve enterprise logistics management and cybersecurity.
- HeraStamp™ proof-stamps mission critical data to permanent data stores and can help with data integrity in, for example, ecommerce settings.
- HeraPass™, with inherently fraud-proof zero trust, zero knowledge design, helps businesses innovate user management in IoT environments by achieving the anonymization and encryption of highly-sensitive data.
- HeraFlow™ is an AI-Powered threat analysis system for fast and accurate threat data monitoring perfect for high-volume workloads and enterprise-level SOC’s.
- HeraVault™ offers distributed cloud storage with built-in replication, error correction and restoration capabilities.
