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.
Simple. Secure. Permanent.
Timescribe is a unique asset protection tool that enables you to protect your intellectual assets in a matter of seconds. Whether it’s a design to protect or a contract to secure, Timescribe provides you with permanent and unalterable evidence to prove ownership and existence of your documents. Timescribe strengthens IP claims by capturing the three most critical pieces of data to protect any intellectual asset: the who, when and what of your ideas, content and designs.
Permanently recorded on blockchain to indefinitely prove that the specific asset existed at certain point of time
Hashing creates an unique identity for your assets to ensure authencity of your original version
Cryptographic signatures allow for publicly verifying the user who created the original intellectual asset
Your intellectual assets are completely confidential as they are not uploaded or stored anywhere, remaining accessible only by you
Timescribe certificates are legally compliant with EU laws and recognisable in countries that accept certified digital evidence
On the Ethereum blockchain, permanent and unchangeable records of your assets are created that can be accessed anytime, anywhere
Share contracts and proposals with third parties without fear of contract tampering or idea theft by certifying them on Timescribe
From web or graphic designs through to textile or artistic designs, safeguard your creations with Timescribe to prove their originality
Confidential data such as research and lab results can be constantly recorded on Timescribe to resolve IP disputes