When you decide to timestamp a file on Timescribe, it is not the file itself but the ‘hash’ of the file that gets timestamped. To understand this better, let’s use an example.
The file you choose can be an image, database, pdf, audio or any other format. The hashing algorithm converts all the contents of the file into a 256-bit string. The hash digest is unique to each file. If you change as much as one character or pixel on the file, the entire hash digest will change. Additionally, hashing algorithms are one-way functions i.e. you can create a hash digest from a file, but it is impossible to re-create the file from the hash digest. Now, this hash digest will be sent to the Ethereum blockchain along with your public key for a permanent registration.
As directed under Article 42 from REGULATION (EU) No 910/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL:
A qualified electronic time stamp shall meet the following requirements:
(a) it binds the date and time to data in such a manner as to reasonably preclude the possibility of the data being changed undetectably;
(b) it is based on an accurate time source linked to Coordinated Universal Time; and
(c) it is signed using an advanced electronic signature or sealed with an advanced electronic seal of the qualified trust service provider, or by some equivalent method.
Timescribe is compliant with all the three mentioned criteria. Consequently, files that are stamped using Timescribe will be legally recognised and can serve as a binding proof in the EU member nations.
For rest of the world, there are no specific laws that describe acceptance criteria for electronic timestamping. However, this does not mean that timestamps are considered invalid in these regions because it is electronic in nature. Several nations have set out laws to legally recognise electronic signatures and made them binding. Therefore, a timestamp may not be legally binding by itself, but it can be admissible in the court of law as a supplemental proof and may provide you a leverage in supporting your claim.
Timescribe utilizes the power of Ethereum blockchain for creating permanent and unchangeable proofs of your file. When you timestamp a file on Timescribe, the hash of the file is sent to Ethereum in a special message called a transaction. A transaction can include different types of data and several such transactions are clubbed together to form a block. Blocks are created in a sequential order and each block contains a reference to the previous block. Thus, you have a ‘chain’ of ‘blocks’ that are affiliated to one another i.e. blockchain.
Any change in the data contained in any block will disrupt the entire chain as the reference is directly related to the data contained in the blocks. This makes it almost impossible to alter any data once it is registered on the blockchain.
Ethereum is a decentralised network and has several ‘nodes’ (such as computers, laptops) that maintain a copy of the blockchain. This means that you can access your file’s proof details at anytime as there are thousands of nodes that are connected to Ethereum.
At a specific point of time. In a specific version. By a specific person.
Need to protect ownership of creative content? Or prove you proposed an idea first? Or ensure a signed contract was not tampered with by any party? Timescribe can create version specific proofs that cannot be altered or deleted once they are created.
Read more about Timescribe implementations.
Every Timescribed file is highly confidential as the original file never leaves your device. That means, even we cannot view the file that you Timescribe. Wonder how this happens?
Find out here.
Timescribe is compliant with the timestamping directives issued by the EU laws under Article 42 and legally valid in the EU nations. For other nations across the world, Timescribed files can be accepted as a supplementary evidence.
Timescribe leverages the Ethereum blockchain for creating permanent and unchangeable records of your files. Once a proof is registered, it can be accessed anytime, anywhere and cannot be erased.
Timestamping is used for all sorts of things like:
- Intellectual property
- Creative work
- Maintenance checks
Usually, timestamping relies on trusting an authority. Time Proof eliminates this reliance by creating timestamps on the Ethereum blockchain which means that the timestamp is recorded by the general public and not by one single authority.
This also means that timestamps can be checked by anyone at anytime independently of Time Proof.