What is DocuChain
- Blockchain-based e-document & contract processing
- The DocuChain project aims to establish a protocol and a platform that encompasses blockchain-based e-document/contract creation, sending, and authentication that have advanced from existing e-document/contract services in line with this trend.
- The necessity of e-document projects.
- It is estimated that Korean companies and financial agencies spend more than ₩1 trillion annually on the distribution and storage of various documents. Due to the traditional storage method, it is difficult to use stored documents for search and reference. In particular, with the advancement of the industry, the volume of these documents is growing exponentially, but efficient operation against cost growth is approaching an almost impossible level.
DocuChain provides the following solutions through blockchain.
- Service flow
- As shown in the diagram above, the biggest difference DocuChain has compared to traditionale-document services is borrowing blockchain-based decentralized systems rather than operating document repositories through centralized servers. This allows the document to have one-dimensional higher levels of inalterability and authenticity than conventional methods.
In DocuChain Platform, users can use the following services.
- 01E-documentation of existing paper documents
- It is a service that can safely store existing paper documents by e-documenting them to DocuChain in which the e- documents are encrypted and verified on the blockchain and then safely stored in IPFS cloud storage. By the time DocuChain is qualified as an authorized e-document storage, existing paper documents are discarded and newly created e-documents are granted of legal status.
- 02E-contract execution
- The contracts can be easily signed by e-documentation, which processes authenticity and inalterability in DocuChain with blockchain-based smart contracts and NFT. The contracts between contractors are converted to NFT, and each contract entity has a kind of authorized certificate with the authenticity of the contract.
- 03Indemnity insurance claiming platform service
- Applying it to the indemnity insurance claim channel based on electronically validated documents and contracts in DocuChain Platform will help solve many of the problems that can occur in the structure of receiving documents and submitting them directly to Insurer.
Solana Core Technology
the Docuchain platform will also coexist with the Solana ecosystem through the Solana blockchain network,
which is currently evaluated as the blockchain with the best performance, and will become a stepping stone for Docuchain to achieve great growth.
- PoH(Proof of History)
- The Solana blockchain focused on optimizing the communication method of network nodes and developed Time Division Multiple Access (TDMA) so that it can have a large scalability in data communication. By supporting multiple simultaneous data channels, the scalability of limited bandwidth is greatly increased. In addition, other blockchain networks require communication between valley data to agree on the passage of time, but Solana's valley data has built a system that maintains and manages its own clock by encoding the passage of time on SHA-256.
Docuchain NFT Process
Docuchain is expected to create a significant synergy effect for the electronic document system
by merging electronic documents and electronic contracts with NFT technology.
It is impossible for NFTs to replace one token with another. Since each token has a unique value or information, it is not compatible with other tokens, and since no one, including the token issuer, can reproduce or transmit it at will, and therefore, the reliability and security of NFTs are very high. Using this NFT technology, Docuchain can issue electronic contracts as NFTs to enable the protection of many people's contract information or assets.
DCCT, a token to be utilized in the DocuChain Platform, has the following forms of flow.
|Protocol||SPL(the token standard on the Solana blockchain)|
|Total Supply||2,000,000,000 DCCT|
Team & Advisor
- Vice president of Icerti
- Blockchain platform / security Solution
- Certificate issue service
- B Publishing Representative Electronic contract service / IT solution
- Happysoft Representative
- Security Consulting / IT Solution
- Mingi Kang
- Encryption solution / Blockchain development
- Former PascalSoft
- 19 years of experience
- Yongman Gung
- Application Soft / Blockchain Development
- Former LG Electronics software development team
- 20 years of experience
- Sangkwon Lee
- Application Soft / Electronic Document
- Former Hyundai Information Technology
- Taehung Kim
- Document security platform
- Former IDC Tech
- Daechul Shin
- B Trust Founder
- Software Development/ Integrated security service
- Adjunct professor at Korea University Graduate School of Information and Communication
- Former Director of Blockchain Association
- Former CEO of Blockchain Consulting
- Sihung Bae
- Government Agency Venture Capitalist
- Former SM Investment
- Specialized in IT company Investment
- 2022 Q1
- : Docuchain Platform Beta Launch
- 2022 Q2
- : Official Platform Launch
- : Global Service Launch
- 2022 Q3
- : Official document platform / Collaborative model for government offices and local governments establishment
- 2022 Q4
- : International document notarization and document translation notarization system