USE CASE
Involved parties
Enterprise clients
In case there is a dispute about when and at what the exact time a document was uploaded, you need to be able to verify this reliably.
In case there is a dispute about which document and it's content was uploaded, you need to be able to validate which one is the original one.
Documents that are shared and used by multiple parties need to be trusted by everyone involved, and independently verifiable.
A document can be represented as a digital fingerprint by 'hashing' the document. LTO Network stores the hash of this document through a with LTO Network connected systems Anyone with access to the data can verify the document by hashing it and comparing it against the stored version.
Not only the hashed document (fingerprint) is stored on the blockchain but also the timestamp of the document. By making documents verifiable and independently auditable, they become more valuable. LTO Network creates portable proof of your timestamped claims. These blockchain-based verifications can be shared and transferred to other parties.
Using the on open standards-based LTO Network is, any party can independently verify the authenticity and timestamp of the document, without having to rely on a trusted third party.
The evidence that a document has been uploaded by a person in the data room or other document management system is indisputable. This protects your organization against potential claims.
With LTO Network, you don't have to change your entire IT infrastructure. You can use your existing systems and applications to administer, record, and communicate with LTO Network. The implementation of LTO Network is as simple as connecting an API.
Documents uploaded and the blockchain receipt with the details of the upload can never be altered. Therefore, you have a foolproof record of everything that goes in and out of your dataroom. LTO Network combined with Virtual Vaults makes it easy to manage who has access and whether documents where viewed, downloaded or removed.
In Virtual Vaults documents are saved securely, and hashed for proving its existence at a certain moment.
Physical and centralized storage is prone to file losses, hacks and manipulation.
Blockchain technology ensures immutable and authentic document records.
Identification of counterfeited paper documents is time consuming costly.
Creating an audit trail of document sharing and version control allows for independent verification of the documents.
Sharing documents in a secure way is complex and inefficient.
By implementing LTO Network into Virtual Vaults, new product opportunities arise. It prevents potential disputes about the discussion whether a file was uploaded in a M&A deal or you can prove that IP actually belongs to your organization instead of the one filing for a patent.
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