Vaultie introduces authorized digital ID-based notary seal on blockchain

Vaultie introduces authorized digital ID-based notary seal on blockchain

Toronto-based authenticated digital signatures entity, Vaultie has recently announced the launch of a first of its kind authorized digital ID-based Commissioner of Oaths and notary seal on blockchain. The new product is entitled to support lawyers reduce the incidences of potential fraud, helping them align the compliance requirements with financial institutions and several other verifiers.

It has been claimed that with Vaultie’s digital seal, commissioners and notaries are verified, and so are the government ID and biometrics of the client signing the document. This implies that anyone who is in a need of validating the authenticity of a document can now check by simply scanning it with their phone.

How would Valutie help in this is that it encrypts the documents between the signing parties so that the information is not accessible to others without proper permission. Moreover, all references are being written to a blockchain, which means that the documents can never be altered, and always authenticated to a specific moment in time that they have been signed.

As per official sources, the company is currently rolling out these seals for Ontario based lawyers with an intent to expanding nationwide shortly.

Speaking on the novel launch, Co-Founder and CEO of Vaultie, Meyer Mechanic, has reportedly cited that with more people doing businesses online, the company’s customers have been raising in the demand for a more secure way to authenticate that the people they have been working with are true and honest.

In this aspect, Vaultie thinks that legal technology stands to be better place to start with digital ID and blockchain technology as the high standard of evidence that affiliate parties require when checking documents necessitate alignment.

Mr. Mechanic added that aligning ID verification between financial institutions, legal services, and even governments would reduce an immeasurable amount of time and billions of dollars in friction devoted in just verifying that the documents are authentic.

Source Credit: https://www.newswire.ca/news-releases/vaultie-launches-verifiable-digital-id-based-notary-seal-on-blockchain-890873535.html