Nice project, i follow. Just one question:
How a judge will recognize the contract signed in the blockchain valid?
Hello Corvins,
Thank you for supporting us!
Answer to the question:
You can look at this from different points of view.
From common sense point of view, an independent expert can show the judge that the digital document is original by always producing the same hash. Any small change in the digital document will produce totally different hash. Also, the counterparty may try to show that different document produce the same hash related to the time stamp - but that is practically impossible.
At the present moment that depends on the jurisdiction of each country. We are seeing some progress in that case. In countries like China, the United States, Russia, Australia, Canada and those in the European Union -- electronic signature is legally binding. If you ask me, it is just a matter of time, when the blockchain (timestamp) is valid evidence in courts over the world.Looking a bit wider, we need the change and improvement of the existing systems. As you probably know, we are incorporating (the possibility of attaching) the media to the contracts, so in the end the proof is more and more irrefutable.
Regards,
Iztok
