What is blockchain technology?

Blockchain technology is best known in the context of digital currencies like Bitcoin, but those are far from its only useful applications. To understand its other uses, however, you must understand what blockchain is.

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Provide confidence that data is authentic and unchanged

  • Prove that a document is unchanged (or changed)

    Suppose you have an executed agreement that is backed up to local storage or the Acronis Cloud. The other party to the agreement also receives a digital copy of the exact same document. In a few months, you get a call from the other party telling you that you didn’t fulfill the contract. That party shows you a document that seems to be original. But you suspect they made some changes to it.

    Using Acronis Cyber Notary Cloud technology, you compare a certificate you generated for this “new” document with the original document’s certificate. That way, you can be sure that the recent document is an identical bit-for-bit match to the one you have in backup storage. If they don’t match, you know that the other party has changed the document in some way and can confirm what they have is not the original document.

  • Confirm a creative work originated on a certain date

    A visual or musical artist may be skeptical about publishing creative assets on the internet. Using Acronis Cyber Notary Cloud certification — a tool for copyright protection that can help confirm the date of origin — can change his mind.

    To do this, the artist creates a backup that contains pieces of digital art, music, photos, or anything else that can be copyrighted. Once the backup is complete, he can obtain a certificate with cryptographic evidence that could help his copyright claim in case of infringement. The record of the original pieces and their creation dates are recorded in the blockchain. Artist can confirm that his piece of art existed at a certain time in the past, was authored by him and assist his copyright claims.

  • Prove a legal document existed when you claim it did

    Lawyers may need to prove to a judge and jury that a file in their possession has been in existence since a certain date and time. Using Acronis Cyber Notary Cloud, they can tie the file in their possession to data on the blockchain, which mathematically proves the existence of that exact file at the specific, earlier date in question.
  • Confirm bills were paid when you said they were paid

    A company keeps an archive of all of its old, paid invoices in a notarized backup. One day, the company receives a letter demanding payment for an invoice that was paid two years ago. The record in the blockchain is permanent and immutable, so the company can confirm that this invoice was re-sent by mistake.
  • Confirm product certifications are unchanged

    A consumer buys a certified diamond with an associated serial number on it. He backs up the diamond’s “warranty of authenticity” and proof of purchase with Acronis Cyber Notary Cloud. After some time, he decides to sell the diamond. A prospective buyer can use Acronis Cyber Notary Cloud to verify that the diamond’s purchase records are unchanged, so he can confidently move forward with a third-party’s professional gemstone evaluation.
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