40 corporations have used Shanghai’s blockchain-powered notary platform to deal with over 3,000 instances since its launch in January.

In response to Jiemian, the “Hui Cun” platform (which is managed by Shanghai Xuhui Notary Public) is a blockchain-based digital knowledge storage protocol that workouts notarization capabilities. It shops footage, movies, and display screen recordings on the platform by way of a blockchain community. These recordsdata are then preserved to be used in litigation.

Shanghai’s Xuhui Notary Public Workplace declare that the platform permits them transparently protect proof, and drop notarization prices by a mean of 44%.

Pan Hao, director of the Xuhui Notary Public Workplace, commented on the blockchain platform:

“The digital proof saved on the Hui Cun platform, as a result of its authenticity is assured, additionally gives a platform for the court docket to advertise additional the appliance of latest applied sciences within the assortment of proof, discover and analysis to resolve the authenticity of proof in proof, and assist to advertise the court docket to crack Mental property info are tough to seek out out.”

Again in June, authorities of Suzhou, China additionally introduced a blockchain-powered pilot program that can present the area with notary providers. This system allegedly goals to assist thousands and thousands of residents entry authorized and authorities places of work by way of the web, and covers providers associated to non-public freedom, life, well being, property rights, and extra.