Case Study of the Day: E-Attestation- Role of Emerging Technologies in E-Governance

Background: A blockchain-based system for e-Attestation can serve as a verification clearinghouse for the required documents against the current system of Notary Attestation.

About e-Attestation using Blockchain

• Existing Notary Process:

• The current challenges using Notary/Physical system of Attestation are:
  • High Operational Cost, as it involves repeated processes for compliance, thereby impacting productivity of personnel.
  • Inflexible Technology leading to errors, and not able to adapt to changing regulatory requirements.
  • Poor Customer Experience due to manual errors, delays in transaction.
• A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
• Solution using blockchain:
  • An Attestations-Chain stores the attested documents along with reference keys that can be used for document verification.
  • Using a wallet application, linked to Digi Locker, users can register and submit documents for attestation as well as submit attested documents that require document verification.
  • Notaries (who provide attestation service) can verify the documents and attest the documents after which the document is hashed and timestamped and stored in the blockchain.
  •  Services that require verification of document, can access the blockchain for verification confirmation.

Benefits of Implementing Blockchain Technology in Attestation Process

• Improved Customer Experience as customers need not share all the original physical documents.
• Improved Transparency/Enhanced Compliance as all steps in the Blockchain can easily be traced and shared with auditors/regulators when required.
• Initial capital Investment, could result in cost reduction in longer run because of reduced redundancy in the verification process for all parties.

Sharing is caring!