Share documents, track versions, and verify the authenticity of each version in real-time.
Current Challenge
Sharing, verification, and reconciliation of sensitive documents between multiple parties has four major issues:
— Accessibility: Due to privacy risks, sending and receiving confidential documents using the current technology is not safe.
— Trust: If there are multiple institutions involved in sharing of the documents, there needs to be a trust layer between them.
— Cost: There are huge costs involved in document distribution services.
— Time: The current process is manual and time-consuming, which substantially drains the organizations’ resources.
A tamper-proof record of all document events is stored on STRATO Mercata, and access is managed using cutting-edge shards.
Solution Benefits
Document Manager on STRATO Mercata empowers businesses to share documents, track its versions, and verify the authenticity of each version in real-time. The flexibility of this application transforms business document collaboration capabilities and drives down reconciliation costs; all with better, faster audibility than ever before.
This blockchain-backed ledger and document sharing system performs the following actions:
✓ Shares data on a need-to-know basis for the customer
✓ Identifies the source of a document
✓ Provides a complete audit trail of how the document was verified, thereby ensuring complete provenance tracking
✓ Allows users to verify and attest to a specific document and version
Document Manager provides the following value for businesses:
✓ Create multiple accounts on a single node, which can significantly reduce the operating costs
✓ Simple interface that other blockchain-based solutions are unable to provide
✓ Clear provenance of documents, which other mainstream solutions are unable to provide
Application flow.
User 1 uploads a word document, creating a hash of the document, which is uploaded to AWS S3 storage in this example. Only User 1 can access this file.
User 1 adds User 2 (and later a third user). Only member users can view, download and track the document.
User 2 downloads the document and makes some changes, then uploads the new version. STRATO Mercata checks the document to confirm it is truly different. Access is still limited to the same users.
User 2 adds User 3 as another member. User 3 verifies the document; Users 1 and 2 do the same. STRATO Mercata checks the verified document hashes to confirm a match.
User 1 transfers document ownership to User 3. This can be done at any point between members only.
Key Features & Differentiatiors
— Smart Contracts
— Simple Login (SSO/OAuth)
— Off-Chain Storage — With STRATO Mercata, the actual document files don’t need to be stored directly on the blockchain, but they still have the same level of security and integrity one can expect from a blockchain.
— On-Chain File History
— File Ownership & Transfer
— Attestation/Signature
— File Sharing & Privacy — This advanced feature is enabled by STRATO Mercata’s enterprise-grade shards
— Document properties can be created to inherit the RBAC (role-based access control) data and enterprise data classifications, labels, and tags from other enterprise systems (e.g. Microsoft AD)
