SICA will verify the existence of any type of files as of a specific time via timestamped transactions in the Waves blockchain. Our App will be a perfect use for the following cases:
Educational institutions will use Signature Chain’s platforms to dematerialize and automatize the delivery of certified diplomas. Once it is complete, the recipient will be able to prove the authenticity of the diploma. For example, an educational institution enters the diploma on our SICA platform to get a unique hash (SHA-256). The student sends out the diploma to a third party, then the third-party checks if the document they received produces the same hash number as the one saved on the blockchain. This process will prove the authenticity of the document as every document has its unique hash number.
Medical groups will use Signature Chain’s platform to issue medical certificates. For example, a laboratory technician attaches a new medical referral to a patient on the blockchain, which contains the medical data, a timestamp, and the author who created it. Once the block is verified and approved, it is then inserted into the blockchain and linked with the previous blocks. The patient can then prove the authenticity of his/her medical documents to anyone during an entire lifetime by simply providing the document that produces the same hash number as the one saved on the blockchain.
The idea is to use blockchains for patents by capturing and attributing ownership, and patent submissions. Some of the most well-known problems occur when people go to court to prove who conceived the concept first. However, there is no concrete way to prove the exact time that an inventor had the idea. That is where proof-of-existence proves beneficial; ownership of an invention or idea can be granted and proved everywhere, independent of a location.
SICA’s platform will also be used to sign multi-party contracts digitally. Once both parties agree on a quotation to do a job, an employer will send a contract to the agreeing party, such as a freelancer. The agreeing party will connect to the SICA platform and upload the documents and the generated hash on the blockchain. After digitally signing the documents, the employer will use the SICA platform to compare the hash function of both documents to determine and confirm the documents are the same, allowing for the final signature.
The primary and main use case of blockchain technology and the associated cryptocurrency, SICA, will be used as a method of payment. SICA will allow a freelancer, a seller, or anyone to use the App and platform. From the contract agreement step to the finalization step, a quick and instant payment using the SICA token will secure a fast and easy transaction. The later addition of the escrow smart contract option will allow a 3rd party to ensure the supervision of any potential conflict.