Will Blockchain replace notaries? - page 2.

Febo

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Quote from: Abiky on December 20, 2019, 08:08:36 PM

Blockchain technology has been proven to be extremely secure against the tampering of data with the use of encryption techniques and byzantine fault tolerance algorithms. Its most successful implementation has been digital money with Bitcoin's inception back in 2009. Over time, people have found that Blockchain has many capabilities far beyond that of finance. It's now possible to prove the authenticity or ownership of documents, and even sign transactions or digital data via the use of smart contracts. The work that was usually done by a notary, can now be done with the power of Blockchain technology.

Considering the huge potential Blockchain has to transform every industry, it's becoming a concern among many people whenever traditional jobs of today will be replaced by Bitcoin's core technology or not. After all, anyone can "notarize" their documents in a trustless manner in a safe and secure way. This makes me wonder if Blockchain technology will be able to replace notaries someday?

What are your thoughts? Huh

Yes it will. But only for internet asset. You cant link real world asset to the blockchain. Let say you have a car, that was part of criminal activity. And is seized by government. But block chain says it is owned by some guy. What you will do? A fork? Miners know exactly who bought that car and is his. And they will never vote that it now belong to government. There are many similar cases. So not a notary in classical meaning.

Xcode7

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Quote from: Abiky on December 20, 2019, 08:08:36 PM

Blockchain technology has been proven to be extremely secure against the tampering of data with the use of encryption techniques and byzantine fault tolerance algorithms. Its most successful implementation has been digital money with Bitcoin's inception back in 2009. Over time, people have found that Blockchain has many capabilities far beyond that of finance. It's now possible to prove the authenticity or ownership of documents, and even sign transactions or digital data via the use of smart contracts. The work that was usually done by a notary, can now be done with the power of Blockchain technology.

Considering the huge potential Blockchain has to transform every industry, it's becoming a concern among many people whenever traditional jobs of today will be replaced by Bitcoin's core technology or not. After all, anyone can "notarize" their documents in a trustless manner in a safe and secure way. This makes me wonder if Blockchain technology will be able to replace notaries someday?

What are your thoughts? Huh

If it will, then this is a supposition if this really happens then there will be a new history here, the consideration is whether all of this has no risk? Of course there is, and we try to have a review if indeed the blockchain will replace the notary public. And if the results of that review are more advantages. Why not?

o48o

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Quote from: Abiky on December 20, 2019, 08:08:36 PM

For sure it will replace the current system, but it will be using zero knowledge proof as not everything is supposed to be public information.

btcdie

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It is probable that the notary will no longer be useful in the future, everything in this world needs technology so that it can facilitate daily life, and it is proven that Blockchain as a new financial technology has been running for 10 years. and Bitcoin is the first coin to appear using Blockchain. and I am a little doubtful about all that, which will survive between Bitcoin, Altcoin and blockchain technology itself, because the government does not support this free market. It is probable that in the future maybe every country prefers to make its own blockchain, and remain under surveillance.

slaman29

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If I'm not mistaken it is already doing exactly this in some instances in some countries. Estonia if I recall is doing this in some of the minor requirements (I tried Googling I swear I remember but can't find the article).

I mean, in countries like mine notaries sign anything off anyway so it's like formality 100%, I would agree it's better cheaper faster and more transparent with blockchain but it has to be + AI to make it work.

DaMut

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Quote from: Patatas on December 21, 2019, 07:22:18 AM

Quote from: Abiky on December 20, 2019, 08:08:36 PM

What are your thoughts? Huh

You mean is blockchain capable of replacing notaries? Yes with immutable structure and decentralized nature, it certainly will. The real question is, is the actual market ready to accept blockchain to replace the existing notaries? No. They have a long way to go. Most of these old fucks don't want to get over the traditional nature.

more like the old guys do not want it because they can not control the market like they always do on the traditional market, with blockchain we can do many things decentrally.
blockchain has everything, we can simplify the process by using it. you do not need to waste a lot of resources and time like we used to be when we were dealing with the notary.

Patatas

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Quote from: Abiky on December 20, 2019, 08:08:36 PM

What are your thoughts? Huh

You mean is blockchain capable of replacing notaries? Yes with immutable structure and decentralized nature, it certainly will. The real question is, is the actual market ready to accept blockchain to replace the existing notaries? No. They have a long way to go. Most of these old fucks don't want to get over the traditional nature.

Peanyut991

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It is very possible for Blockchain to replace the role of a notary. But maybe not in the near future, people do not fully know about Blockchain, Blockchain technology needs to be educated to the community first.

KimmyF

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We know that blockchain isn't favorite for only secure for all of us. We use blockchain because so easy to use and where have our privacy. Some people won't like if privacy is out from blockchain as same in notaries. This isn't possible to replace because notaries hasn't some privacy but still enough secure.

StandardCash

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Blockchain can replace notary works and jobs because it is useful for the same purposes and with much more reliability and transparency than any notary can have.

We at Standard Cash believes in the usefulness of blockchain as global decentralised database with immutable properties to accomplish with daily basis task such contracting between two parties, committing works proposal, notarizing documents and many more.

the rise

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every official agreement requires a witness and liaison from trusted authorities. Although the blockchain can get past all of that, the state also requires the presence of a third party that can be considered fully responsible before the law. If only done by two parties independently, the blockchain will only be evidence from the database without binding authority, here the role of the notary will still be very vital.

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Quote from: Abiky on December 20, 2019, 08:08:36 PM

Blockchain technology has been proven to be extremely secure against the tampering of data with the use of encryption techniques and byzantine fault tolerance algorithms. Its most successful implementation has been digital money with Bitcoin's inception back in 2009. Over time, people have found that Blockchain has many capabilities far beyond that of finance. It's now possible to prove the authenticity or ownership of documents, and even sign transactions or digital data via the use of smart contracts. The work that was usually done by a notary, can now be done with the power of Blockchain technology.

Considering the huge potential Blockchain has to transform every industry, it's becoming a concern among many people whenever traditional jobs of today will be replaced by Bitcoin's core technology or not. After all, anyone can "notarize" their documents in a trustless manner in a safe and secure way. This makes me wonder if Blockchain technology will be able to replace notaries someday?

What are your thoughts? Huh

I see that Blockchain is not a tool to replace the work of notaries. It would be better to be a data storage tool as transparent as possible. The same case is robots have helped people accelerate work, although there is a risk that the number of workers will be cut.
Everything must change. When something better comes out, the obsolete stuff will inevitably lose its position. I believe that Blockchain will not completely lose the jobs of notaries.

crossabdd

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it can happen, as time goes on. blockchain technology continues to be developed for real life. blockchain is about notes. even I think, it's not only a notary. but there will be many things about traditional records that will be changed to the blockchain system. certificates, financial records, state documents, even national elections can be carried out by blockchain ... so we are heading towards that.

Dickiy

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what I think is BITCOIN was born with blockchai technology but the most highlighted here is a technology that is blockchain so when BITCOIN supply has reached it in 21 million, will BITCOIN and blockchain survive or only the blockchain will survive?

fuer44

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I'm confused by this problem, on the other hand blockchain is very sophisticated, but the security is also still questionable. on the other hand, the notary must be official under state law while the blockchain has not gotten it. for managing important documents, using blockchain is good, but if there is no official law from the country, can it be implemented? whereas for now and in the near future, I don't think anyone will legalize crypto and blockchain for official implementation.

bobitza

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In a recent report on blockchain (public ledger) entitled "Blockchain and future of accounting industry" of the Institute of Certified Public Accountants of England and Wales (ICAEW), this technology is making a change in operations. Occupation in finance - accounting.
Not only that, the block chain can replace the function of a bank as well as a lawyer. Humans are smart to create blockchain systems.

Aabcde

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I think there is a possibility. But the problem is that humans want to use the blockchain or not, if later they use it, the notaries end up losing their jobs. And this blockchain will definitely be opposed by the notary because later their work will be taken over by the blockchain. Maybe this is what I can think of now: D

Abiky

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Blockchain technology has been proven to be extremely secure against the tampering of data with the use of encryption techniques and byzantine fault tolerance algorithms. Its most successful implementation has been digital money with Bitcoin's inception back in 2009. Over time, people have found that Blockchain has many capabilities far beyond that of finance. It's now possible to prove the authenticity or ownership of documents, and even sign transactions or digital data via the use of smart contracts. The work that was usually done by a notary, can now be done with the power of Blockchain technology.

Considering the huge potential Blockchain has to transform every industry, it's becoming a concern among many people whenever traditional jobs of today will be replaced by Bitcoin's core technology or not. After all, anyone can "notarize" their documents in a trustless manner in a safe and secure way. This makes me wonder if Blockchain technology will be able to replace notaries someday?

What are your thoughts? Huh

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