Topic: Will Blockchain replace notaries? (Read 405 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.

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.

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?

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.

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.

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.

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.

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. 

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.

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.

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.  

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.

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.

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.

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?

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.

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.

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

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?