Topic: Will Blockchain replace notaries? (Read 407 times)

Just follow it, in 2013 people dont think blockchain can be sign of ownership of an art or a tweet and make it valuable isnt it?
The tech is ready to be adopted, the problem is from the rule for it to be adapted. Blockchain is like internet trend, mass adoption soon.

Good point. A blockchain network isn't endorsed by any government whatsoever. The rule of law cannot be enforced because of the decentralized nature of crypto/Blockchain tech. Proving ownership of documents through a notary is more credible to a court than doing so through a blockchain. I think we're still too early to determine whenever a Blockchain will replace a notary or not. The technology is still in its infancy despite years of progress. There are other more important things than using Blockchain for notarization. After all, Blockchain is not meant to be used for everything. We may end up living with Blockchain as an alternative than a replacement of many things in daily life because of its many limitations. Just my opinion

In real world its really impossible to do. We all know that notaries are part of the government requisition and blockchain has per to per transaction by eliminating the intermediaries. It takes alot of time and effort to consider this kind of thing and some other countries have not support in the digital currency aspect..

Yes, because as always people will use the cheapest method. Notaries cost an arm and a leg.

In general, I think this is a good idea, but it will take a very long time to go to it.  Blockchain technologies are unknown to many people and popularization will take a long time.  And the loss of jobs by notaries is also a minus.

I think there's a big possibility for this, sooner or later the government will figure out how good the immutable, decentralized nature of the blockchain to avoid data altering etc
when it comes to things like this, not to mention it could even simplify further the bureaucracy. Just imagine you can settle all these complicated things with just set of computer code.
It's also highly efficient and cost saving for the government, I see no excuse if government didn't atleast try this in their system.

it talks about the future. to see it all we must know how the adoption of the application of blockchain technology itself. I remember 2017-2020, we can see how so many new projects with amazing innovations come with blockchain adoption. many industries are getting interested in entering and trying out how industry in the real world utilizes blockchain which is considered a transparent and secure technology.
when it is accepted by society. then the blockchain functionality will be very broad. but for now, we still have not seen it. maybe we should be patient.

Blockchain is experiencing very rapid development. but we must be honest with ourselves that the current utilization is still not too big.
use for NFT project you mean just one of them. but to use it as a notary functional replacement seems too far away.
blockchain has not really been fully adopted. state administration and banking, how do they deal with it all?

it can happen, but it comes back to everyone's perception whether they want to use it or not, because everyone has their own thoughts and if people prefer to use blockchain it will shift the work of notaries, because blockchain has replaced their duties.

You do not need to erase the document, you simply need to update the document and the changes will be visible and you can view the old document and the new changes and that is how a document should be as we should be able to verify all the changes made without erasing its history especially government documents, but it will take a long time to see changes like these. 

I think all that can be done, but it is not in accordance with the Blockchain concept of being anonymous and transparent. The meaning of anonymous and transparent is, we can track blockchain transactions but not know the owner. If we ignore the concept of anonymous, then Satoshi Nakamoto doesn't need to disguise himself for now.

I think it's too early to say whenever Blockchains will replace notaries or simply remain as an alternative solution. Despite Blockchain's promise of eliminating the middleman, it's still not 100% efficient. One way or another, human interaction is required to make it work as intended. The main issue would be changing documents on a daily basis due to the Blockchain's immutable nature. You cannot do this without sacrificing decentralization. A centralized database is more suitable for this, although it would defeat the purpose of a Blockchain. This wouldn't be much of a concern since Blockchain technology is not meant to replace everything in our society. Just my thoughts

A blockchain or smart contract will most likely not replace a notary as such - at least it is necessary to assess the situation correctly from the point of view of the current legislation. But what is certain is that blockchain technology can become an almost ideal tool for registering transactions, registering property rights, inheritance, etc. processes where notaries who are not clean on their hands can change documents "retroactively", which is impossible in the blockchain

This kind of things that are related to government depends on the bureaucracy of the government itself, if the government want to spend some effort modernizing their system more specifically when it comes to things like this they could, implementation is rather easy for a government that has huge chunk of money but the only thing holding it back is the decision made by the government itself. If the government against the idea of decentralizing this, then they should create a modified version of blockchain.

There are many online articles that falsely claim that blockchain timestamps can replace human notaries. A notary is a human public official appointed by the government and cannot be a computer or software. A blockchain timestamp is not an equivalent substitute for a government notary stamp. They serve different purposes. Civil law notaries and common law notaries have different roles. For a detailed explanation see my Colorado Notary Blog post https://abclegaldocs.com/blog-Colorado-Notary/can-blockchain-replace-notaries/

One thing for sure, nothing is certain in life. If Blockchain technology becomes widely successful within the mainstream world, you could expect many of today's jobs to go extinct in the future. It's been proven that Blockchain is a real useful "tool" for proving the authenticity of documents, ownership, and more. This way, Blockchain technology can replace many traditional notaries of today. The only thing it lacks is legal recognition within the mainstream world. Still though, Blockchain tech is incapable of meeting the demands of everyday users because of its scalability issues. In this sense, notaries have a huge advantage over Blockchain (in addition to being state-backed).

If Blockchain never replaces notaries, there should be nothing to worry about. After all, Blockchain works better for finance than anything else. Notaries might end up using Blockchain technology in the future, if the same handles its limitations. This outcome is more likely to happen in the long run, than Blockchain replacing notaries in their entirety. Time will tell us if people will demand notary services using automated systems powered by Blockchain tech and AI, or continue in the traditional path where an actual person does all the work for you of notarizing your utmost important documents. Just my opinion

It could be, because all technological advances will change to digital. 
But it needs a rule of law to protect the owner as well if one day there is something detrimental.

They will just work with blockchain. Perfect addition

hard to predict too, even blockchain technology can also replace fiat currency, so will fiat disappear someday?
I don't think we still need it even though blockchain technology will dominate.
as well as robots that may be widely used in the future, if they can do the work done by humans, then whether humans will not be used again?
think that's what my thinking is like.

Yes, this is an interesting question. I didn’t even think about it. However, it seems that the blockchain in some cases may well replace the notary public. An entry in the blockchain cannot be deleted or changed, and this is a very good advantage. However, such an innovation must be enshrined in the national laws of states.