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Notarised ( Notarised NTS) ICO Review

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Notarised is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico Time15 Feb 2020 – 30 Jun 2020
Token NameNotarised
Token SymbolNotarised / NTS
WhitepaperView Whitepaper
Website LinkHome
Price1 Notarised / NTS = 0.2 USD
PlatformEthereum
Soft Cap1,000,000 USD
Hard Cap7,000,000 USD

More about Notarised ( Notarised NTS) ICO:

Notarised.io is a decentralized application build on top of the blockchain that helps you sign, notarize and verify any type of document. It gives you the ability to upload your documents create new documents or reusable templates in no time, by collaborating with your team in a real time environment. Notarised.io uses smart signing allowing you to have control over the time and signing flow of the document by third parties. Provides you with a digital identity and way to prove your digital identity that ensures integrity of your documents.

The entire team has been working together for the past 2 years, This team shares the same passion, about working on a product that will help individuals, and businesses in improving their lives. The team was started with the two co-founders while working on projects that utilized digital signing technologies. We saw an opportunity in this industry, which required initial analysis of the market and the potential technologies that can be used. The team started growing as the need for different areas of the idea development was growing, such as Product Analysis, Design, Development, Marketing and Business Development. Some of us have been friends for a long time, and we introduced people to the team by knowing each team member as a passionate, proactive business professionals that can contribute and drive this idea and team to success.

During our journey we are glad to share some of our major achievements for the past two years:

  • One of the three winners of the Startup pitch competition at the Tech4Muni Hackathon organized by the UNDP and with the support of three municipalities in Oct 2019, North Macedonia
  • 2nd place at the Startup Pitch Contest that was held at Malta Blockchain Conference in Nov 2019
  • 10.000.000 Tokens sold in a private sale to the investors of our partner Silverrock Group
  • We have officially signed a contract with Municipalities of Veles and Gostivar in North Macedonia for implementing our solution within the municipalities’ institutions. Main supporter and partner in the entire process is UNDP.
  • Officially signed agreement to list Notarised token on Globiance as an exchange platform

Introduction

Increased digitization of the global economy, changes the ways products and services are produced, marketed, distributed and purchased across the world. Many new technologies like artificial intelligence, cloud computing, the introduction of “smart devices” and the use of autonomous systems, are creating new industries and are changing existing ones. The speed of digitization has its benefits, but also imposes difficult governance challenges, within and across borders. The correct use of the digital technology is crucial for offering additional value in today’s global economy. Global rules, which are embedded in different multilateral, regional trade and investment agreements, are challenged by new processes that digitization is introducing. Some countries manage to take advantage of the current regulatory environment and some face the risk of being left behind. Same thing applies for businesses as well. For many companies in the world, the digitization of their core business processes is crucial for their business survival. Many people think that B2C companiesare the ones that lead the digital transformation, but instead B2B companiesare the ones that tend to invest most in the digital transformation. One of the major business processes that companies need to digitize are the long, paper-based, and intensive processes. For B2B oriented companies, documents are the main tool forconducting business. Digital Transaction Management is a key way to begin this process. While working with papers, especially with confidential documents, it is very important to have those documents kept in secured places and to know at any time who has access to them. When dealing with these kind of documents, proof of ownership, proof of identity, proof of authenticationand proof of integrityare of utmost importance.

Within the digital and automated processes, where security, access transparency, and confidentiality are a must, the digital identityplays a significant role. “Digital identityis the technological link between a real entity such as a person and its digital equivalent entities. It includes a collection of electronically captured and stored identity attributes including biographic and biometric data, and something the person has like a smartphone—that can uniquely describe a person within a given context.” 1The importance of the digital identity in today’s world is seen by many as new regulatory environments take shape, and closer collaboration between the financial sector, central/local public authorities and digital communications operators will give support for providing goodsolutions and implementation of best practices.One of the biggest technological trends in the world that will redefine how businesses work, how people collaborate and transact, and identify themselves is the use of blockchain technology.A blockchain represents a distributed ledger of transaction records that are encrypted and securely saved across a network of computers so that the records cannot be altered retroactively without the modificationof all successiveblocks and the consensus of the network.The main advantages of the blockchain technology can significantly improve and guide the innovation and acceptance process of thistechnology in many industries. The main benefits of the implementing the blockchain technologythat will be most significant and evident are:decentralization; transparencyandtrust, immutability; highly available and secure andsimplificationand automation of processes.

Worldwide initiativesof Digital ID

A number of companies and governments are making headway in this field:China Mobile has enteredin the digital IDmarket by presentinga mobile authentication systemwhich is used byover62 million users. Over450 million daily transactions are executedon the platform offering a range of authentication capabilities across differentcommercial applications.In India, the government’s digital ID platform, Aadhaarhas now been linked to around 558 million bank accounts. The platform was launched in 2009, and since than over1.18 billion biometric accounts have been created.Biometric technology is also popular in Pakistan. The popularplatform NADRAworks with banks, mobile operators, and others. The biometric data kept in their databases, helped in managingthe payments of flood relief to 2.4 families.In Estonia, the Digital ID service manages the public and private interactions of 98% of the population. This encapsulateseverything from eVoting, traveling within the EU, health insurance, e-prescriptions, public transport, voting, proof of ID, and taxes. In all, there are over 700 applications on the platform.Otherinitiativesare initializedacross Europe, including the Single Digital Identity. Countries like Canada, Austria and Spain arealsoheadingin this direction. Theyhighlightthe role that telecom operators can play, something which is importantfor widespread acceptance.For financial institutions,identification and verification have always been crucial elements for financial services. Banks alone are now spending over $1billion a year on different IDmanagement solutions.What is really important, when interactingonline, is the validation that others do (identity providers or validators)of the attributes that we share to prove our identity.The level of given assurance to interacting parties, whether they are individuals, businesses or governmental institutions, becomes more intense, a higher degree of veracity is required. This happensbecauseconfidence iscrucial in trade relations. Thisis the reason why identity providers with a high level of assurance, like public authorities or financial institutions, will be the leaders of the future ID market.

Problems with paper-based processes

When working with intensive, paper-based processes, such as legal and notarial processes a lot of concerns and problems can arise. In many developed countries, 40% to 60% percent of the companies are trying to implement or have implemented digital servicesthat will reduce their costs in matter of money and time. Such an example are traditional notaries, whichdepend upon use of paper, seals and ink and keeping it in a physical journal. In order to get notarized in a traditional notary system, a person has to seek help from notary, travel miles to get his document certified or tested plus the cost involved is high.There is also arisk of document being temperedor lostdue to natural disasterssuch as flood, earthquake. Such as example, it the incident in Haiti. All the records were lost during the earthquake and people were fighting over lands. Hundreds of millions of documents are notarized inthe world wills, mortgages, citizenship forms, handgun applications.In the past couple of years it is a trend to remove old way of providing notary services, with digitization of this paper-based processes. Notaries have shifted to E-Notaries using e-signatures where people can get their documents notarized in an electronic way. In the United States, there has been huge increase in the use of e-Notaries governments and businesses have accepted it and given it their trust. Every industry can take advantage from the automation of notary services that involve the making and keeping of paper based notaries. Use of e-signatures will effectively boost the market and reduce the administrative cost involved. Now E-Notarized affidavits are being accepted in court, lobbyist use it before filling their annual reports, adaptation and legal filling most importantly mortgage industry can use it by making process efficient and less complex. Every state have added their own regulations and rules in their legislature.However still there is no guarantee that in case of urgent need or any misfortunethe document or certificate is still available and is in its original form in the existing database. In case of E-notarization your document is not tamper-proof and it is vulnerable to internal fraud and external hacking. E.g recent data breach attack on DocuSignhas resulted in to targeted email malware campaign. One of the basic requirement for notary to be valid is that all people who are involved in signing the documentto be physically available, prove that their authenticity, their willingness to sign and their awareness about the content. Notaries deter fraud and makes sure that signer knows what documents they are participating in. Solution to this is to move e-Notary and all document-based servicestowards blockchain and make use of its security benefit provided by world biggest supercomputer achieved by distributed consensus algorithm.

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