Blockchain is the term for a technology that was first implemented in 2009 and is best known for its use with cryptocurrency. Blockchain has become a widely-used technology that is rapidly disrupting sectors as diverse as cybersecurity, elections, real estate and analytics.

For the purpose of cryptocurrency, a blockchain serves as a distributed public ledger, a secure method for recording peer-to-peer transactions and making them publicly verifiable. Blockchain doesn’t rely on a central authority, and most importantly, it makes double spending and forgery impossible. Theoretically, double spending and forgery are possible, but the time required is longer than the current age of the Universe.

A blockchain is an efficient and secure way of storing the records of multiple Merkle trees. You can think of a blockchain as a database. Unlike most conventional databases, composed of tables with columns and rows, a blockchain is composed of sequential blocks securely linked to each other using cryptography. Another difference is that the security does not depend on access permissions; instead, the data is verified independently.

Why Scrive uses blockchain

Scrive guarantees the integrity of your document by sealing it with a digital signature, either with KSI or PKI. KSI blockchain technology provides a method of securing the digital signature by entering it into a permanent, verifiable public record. A benefit of KSI vs PKI is that KSI is not dependent on certificates and thus not subject to the limitations associated with certificate-based solutions. In the event of a dispute, the digital signature enables you to prove that your document:

has not been altered
was created on the precise date and time indicated by the digital signature

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