The Future of Document Verification: Leveraging Blockchain and Self-Sovereign Identity for Enhanced Security and Transparency

• URL: http://arxiv.org/abs/2412.01531v1
• Date: Mon, 02 Dec 2024 14:20:46 GMT
• Title: The Future of Document Verification: Leveraging Blockchain and Self-Sovereign Identity for Enhanced Security and Transparency
• Authors: Swapna Krishnakumar Radha, Andrey Kuehlkamp, Jarek Nabrzyski,
• Abstract summary: This paper proposes a new strategy using decentralized technologies such as blockchain and self-sovereign identity.<n>Traditional methods also lack real-time tracking capabilities for attesting entities and requesters.
• Score: 0.2621730497733947
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: Attestation of documents like legal papers, professional qualifications, medical records, and commercial documents is crucial in global transactions, ensuring their authenticity, integrity, and trustworthiness. Companies expanding operations internationally need to submit attested financial statements and incorporation documents to foreign governments or business partners to prove their businesses and operations' authenticity, legal validity, and regulatory compliance. Attestation also plays a critical role in education, overseas employment, and authentication of legal documents such as testaments and medical records. The traditional attestation process is plagued by several challenges, including time-consuming procedures, the circulation of counterfeit documents, and concerns over data privacy in the attested records. The COVID-19 pandemic brought into light another challenge: ensuring physical presence for attestation, which caused a significant delay in the attestation process. Traditional methods also lack real-time tracking capabilities for attesting entities and requesters. This paper aims to propose a new strategy using decentralized technologies such as blockchain and self-sovereign identity to overcome the identified hurdles and provide an efficient, secure, and user-friendly attestation ecosystem.

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