The Zilliqa team has announced that they have used the ZILHive Grant and Hybridverse to provide a data timestamp service on their blockchain.
Yesterday we announced the recipients of the 6th wave of #ZILHive Grants 📢 Find out more about one of them, Data Timestamp – the world’s fastest, #enterprise-grade, notarisation dApp – AW#Zilliqa #Blockchain#BUIDLOnZIL https://t.co/ExgQbtUGja
— Zilliqa (@zilliqa) April 23, 2020
One of the solutions that blockchain technology allows is precisely that of timestamp, i.e. to uniquely imprint when a certain event has occurred: in addition to marking the time, it cannot be modified or altered and allows a continuous chronological order of data, allowing to identify when a piece of information has been created or otherwise put on the blockchain.
The timestamp, if applied on a large scale, could replace the need to have a notary public, as with the notarization on the blockchain it is possible to upload documents, as for example does the Italian company Notarify, and have the certainty that from then on any document or information will be subsequent to the original files, think of the case of patents or artistic creations of which it is necessary to prove the date and ownership.
In this case, everything has been brought to the Zilliqa blockchain thanks to Hybridverse, so, in just 30 seconds, it is possible to finalize a timestamp and make a notarization of a document faster than on other blockchains such as that of Ethereum.
Thanks to Chronos and Kairos, the different Data Timestamp servers, one for free and the other for premium users, it is possible to have the Proof of Ownership of a document: the user can sign the timestamp and it is also possible to insert a public key in a list of validators to have an additional degree of security and reliability.
Hence, the applications are practically endless, from copyright certification to the transfer of ownership of a property.