Legal Documents
Lawyers, Real Estate Professionals, Business People could use hashrepos to register contracts, title deeds, legal documents or any digital asset to prove that the files have not changed or been tampered with.
How does it work?
HashRepos works by letting you to store a crypto-graphical hash of your file permanently on the blockchain. A crypto-graphical hash is a mathematical process which transforms or maps a set of data (your file) into a fixed set of characters (the hash).
What’s important to note is that a file or its identical copy will always transform into the same hash value. However, even the slightest change in the file, by a jot or tittle will result in a completely different hash.
Hence, once a file is hashed and the hash is stored on the blockchain, you will always be able to verify whether a copy is identical to the original or whether it has been tampered with.
How is it useful?
This has important application for legal documents such as wills, title deeds, contracts and other notarial acts as you will be able check if a copy is identical to the original.
Furthermore, when the hash is placed on the blockchain, the placement is also time-stamped. In this way the bonafide owner of the file can always proof the existence of the file and its contents at a point in time.
Creators of digital content, inventors, photographers, artists, musicians and videographers are able to establish when their work was created and support their claim in the event of a copyright dispute.
Prove without revealing content
Note also, that it is only necessary to store the hash on the blockchain. The hash is also a one way hash, meaning that it is not possible to obtain the file from the hash. This property ensures that you may keep the original file secret and hidden and only use the hash to confirm the authenticity of a copy.
HashRepos uses the SHA-256 hashing algorithm which is a leading standard in cryptographic applications, most notably used in Bitcoin applications.
Who would use HashRepos?
Professionals such as lawyers, accountants, inventors, photographers, musicians, artists would all find HashRepos invaluable.
However anyone with a Digital Asset would use HashRepos as a more sure way of recording therir stake in the asset.