Vaultie Launches Verifiable Digital-ID Based Notary Seal on Blockchain
Toronto, Ontario--(Newsfile Corp. - March 9, 2021) - Vaultie launches a first of its kind verifiable digital-ID based notary and Commissioner of Oaths seal. This new product, in conjunction with major upgrades to its already popular digital ID and blockchain based digital signature product, helps lawyers reduce instances of fraud and aligns compliance obligations with financial institutions and other verifiers.
Using Vaultie's digital seal, notaries and commissioners are verified, as are the government ID and biometrics of the client signing the document. This means that anyone who may need to validate the authenticity of a document can check by simply scanning the document with their phone. Vaultie encrypts the documents between signing parties so no one can read the documents without explicit permission. In addition, all references are written to a blockchain which means the documents can never be altered, and always verified to the specific moment in time that they were signed.
Vaultie is rolling out notary and commissioner seals for Ontario lawyers currently, with intent to expand nationwide shortly.
"With more and more people doing business with people they may have only met online, our customers have needed a way to authenticate that the people they are working with are honest and true, both for compliance and their own feelings of assurance. Verifying every step of the process reduces both fraud and gives peace of mind to everyone involved," said Meyer Mechanic, Co-Founder and CEO of Vaultie.
Vaultie has greater plans for the use of it's seal product, as it's the same technology that could allow for digital driver's licenses, health cards, passports and compliance on cryptocurrency transactions.
"We think legal technology is an important place to start with digital ID and blockchain technology because the high standard of proof that affiliate parties need when checking documents necessitate alignment," said Mechanic. "Aligning ID verification between legal services, financial institutions and even governments would alleviate billions of dollars in friction and an immeasurable amount of time devoted to just verifying that the document's authentic."
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Vaultie is a digital identity company that is passionate about protecting people's privacy and safeguarding their documents. We do this by building secure, easy-to-use software based on verifiable credentials, blockchain, and ethical facial recognition.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76426