SOLUTIONS – bnotary

bnotary is OpenTimestamps (OTS)-based software that allows any digital document or archive to be stored and notarized on the Bitcoin Blockchain

Advantages:

Trust

bnotary uses Bitcoin’s decentralized and public blockchain, eliminating the need for third-party trustees.

Costs

bnotary is indefinitely scalable, allowing timestamps to be freely created in unlimited numbers within a Bitcoin transaction.

Convenience

bnotary can create a timestamp as a neutral third party in less than a second, no need to wait for confirmations on the Bitcoin network.

With the advent of innovations such as Bitcoin, it is possible to create and verify certificates of document existence without relying on a trusted third party, reducing the time, cost, and risk of the operation

From a legal perspective, the value of blockchain records is governed by Art. 8-ter of L.D. 135/2018, converted by L. 12/2019, which refers generally to all distributed ledger-based technologies. According to the normative dictate, the storage of a computer document through the use of such technologies produces the effects of electronic time validation referred to in Art. 41 Eidas, if done in accordance with the provisions of the AgID guidelines (at present yet to be issued).

According to the prevailing interpretation, the reference is to simple time validation and not to qualified time validation (regulated in Art. 42 Eidas): in short, there would be a reversal of the burden of proof under Art. 2697 c.c., but it would always remain permissible for counterparties to prove the falsity of the date. It will then be up to case law to determine the degree of evidentiary reliability of different blockchains, likely based on the level of hash rate.

 

The legal potential of this service, however, is still unexplored: the characteristics of the blockchain lend themselves (in addition to the storage of a certain document) to the proof of its transmission to other parties.

 

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Discover the solution that is right for you:
Heritage protection
Asset creation and NFT
Notarization of files and data