They're using the Bitcoin blockchain to post the one-way hash proving that the document existed at a certain time. They wrote: "This is possibly the first non-currency application of the Bitcoin Blockchain packaged in a commercial way for non-technical users."
That's precisely what Bitcoin is solving: it's the first system allowing to have trust without a chain of trust, without a central authority. And this is why IMHO Bitcoin is huge.
In a way Bitcoin-the-cryptocurrency is "just" one application of that decentralized trust.
Now that said that technique is known since a long time: if I'm not mistaken people have been using SHA256 of documents as private (?) keys to make a tiny transfer in the Bitcoin blockchain since basically as long as Bitcoin existed.
It's good to see it as an easy-to-use service although apparently there are already free alternatives...
No no, I read. I'm just wondering in 10 years time whether the blockchain ledger will still be available, or still within it's current ownership. In my opinion the nature of using this kind of service is that you may not need it until many years ahead, some could argue that bitcoin may not be around then, or may not be a in strong position; people may lose interest etc.
Not asking rhetorical questions, just seeing other peoples thoughts.
They're using the Bitcoin blockchain to post the one-way hash proving that the document existed at a certain time. They wrote: "This is possibly the first non-currency application of the Bitcoin Blockchain packaged in a commercial way for non-technical users."
That's precisely what Bitcoin is solving: it's the first system allowing to have trust without a chain of trust, without a central authority. And this is why IMHO Bitcoin is huge.
In a way Bitcoin-the-cryptocurrency is "just" one application of that decentralized trust.
Now that said that technique is known since a long time: if I'm not mistaken people have been using SHA256 of documents as private (?) keys to make a tiny transfer in the Bitcoin blockchain since basically as long as Bitcoin existed.
It's good to see it as an easy-to-use service although apparently there are already free alternatives...