Mastering Blockchain - Second Edition

An example project – Proof of Idea

The idea behind this program is to provide a service to notarize a document. This can then be used as proof that at a certain time in the past, the claimant has had access to a certain piece of information. This can be very useful for patent documents.

For example, if someone has come up with an idea, he or she can then create a hash of that document and save it on the blockchain. Due to the immutable nature of blockchain, it can serve as permanent proof that a certain idea (documents) existed at a certain time. There are many ways in which this can be achieved, but the key idea is the same and it works on the principle that hash functions provide a digest of the text or document and are unique.

This can ...