Shanghai’s Blockchan-powered notaries
China-based notaries use Blockchain to handle thousands of clients
Since its launch last January, 40 firms have used Shanghai’s blockchain-powered notary platform to handle over 3,000 cases. The notaries use a platform called Hui Cun, which essentially stores data from pictures, videos, to screen recordings through the blockchain network, which are then used for litigation purposes.
The Notary Public Office of Shanghai claimed that the platforms offers the possibility of safely and transparently storing evidence and helps them to drop costs by 44%, which is an incredible percentage. Director Pan Hao of the CUhui Notary Public Office commented saying how
The electronic evidence stored on the Hui Cun platform, because its authenticity is guaranteed, also provides a platform for the court to promote further the application of new technologies in the collection of evidence, explore and research to solve the authenticity of evidence in evidence, and help to promote the court to crack Intellectual property facts are difficult to find out.”
Early this Summer, authorities of Suzhou also said that a blockchain-powered program will provide a notary service that will supposedly fascilitate the process of accessing legal records and offices for millions of citizens through the internet.