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CONTEXT: Despite the inefficiencies and dangers involved, trade still largely relies on manual processing of paper documents. Resistance to move to digital carriers and databases transpires mainly from deep-rooted cultural preferences of physical documents, certificates and stamps.

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STATUS QUO

Special inks and papers are used to authenticate all kind of documents.

LIMITATIONS

Counterfeit or altered documents: hard to detect for non-experts

RIDDLE&CODE SOLUTION

Replace the need for special inks and papers with non-removable crypto tag that can be embedded into any physical document and which stores meta and/or biometric data on the blockchain.

BENEFITS

• Ease of detection: manipulated or altered documents will not be validated by blockchain
• Flexibility: crypto tag can be updated with new meta/ biometric data at any time
• Provides superior security and trust in international trade
• Full data privacy is guaranteed - biometric data (stored on the blockchain) is linked to the document public key. Public keys are stored on the State ́s database and matched with personal data

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STATUS QUO

Information printed on the deed is matched to the information printed on the ID or database.

LIMITATIONS

Limited capacity to detect identity theft

RIDDLE&CODE SOLUTION

Meta/biometric data (e.g. fingerprints) is matched to the data stored on the blockchain.
 

BENEFITS

• Immediate validation of the data
• During matching/verification process only the validity of data is certified, but no private data is transmitted
• Provides superior security and trust in international trade
• Full data privacy is guaranteed - biometric data (stored on the blockchain) is linked to the document public key. Public keys are stored on the State ́s database and matched with personal data

  

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Non-removable crypto tag is attached to or embedded into the deed. Immediately after, it gets provisioned* and attested** on the blockchain with relevant metadata, fingerprint from the owner + his/her telephone number.

The user downloads the App.

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The authenticity of the deed can now easily be validated just by scanning it with a NFC-enabled smartphone.

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If the legitimate ownership of the person holding the land deed is not clear, the buyer can then confirm the sellers identity through a fingerprint verification process.

After verification, the transaction can be carried out without any further delay and security on both: authenticity of the document and identity of the seller.

*Process by which the key pairs are created. **Process by which the public key of the crypto tag is registered on the blockchain of choice.

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