CoinNetwork blockchain contract and digital seal solution – digitizing paper contracts and physical seals

1. Overview

The CoinNet blockchain contract and digital seal solution is a set of digital solutions based on blockchain technology to solve the shortcomings of traditional paper contracts and physical seals. With the advent of the digital age, more and more people or enterprises are beginning to enter the digital office era, and many emerging enterprises and institutions are beginning to try to use various emerging computer software office systems such as ERP and CRM. However, it is strange that many traditional paper offices have been transferred to computers, while contracts and seals are still more often signed on paper. The reason is that there is currently no electronic contract solution that is better than paper contracts and physical seals. This is obviously not suitable for the era of rapid development of the Internet.

2. Why establish a blockchain digital contract and digital seal solution?

With the development of Internet technology, more and more institutions have begun to vigorously study digital contracts and digital seal technologies. However, these technologies are still at the stage of centralized digital solutions. Many institutions are conducting research and development for the benefit of their own groups, regardless of the interests of users. In addition, the cost is high, the solutions are not transparent, the technology is monopolized and operated by a few people, and it is easy to cheat. In addition, the technology is not open, transparent, and not universal among various groups and institutions, which has caused a lack of credibility and restricted the rapid popularization and development of this technology. In our lives, we often see some malicious people deliberately tampering with and violating the original agreement, using various relationships and methods in their hands to seek personal gain. When the kind-hearted users who are in a disadvantaged position want to use the original agreement to maintain justice through judicial means, they find that it is no longer feasible. All this is due to ordinary paper agreements, which are easy to lose, easy to be modified by people, and are not transparent and open to the public. This is obviously not in line with the new world order of the Internet of Things in the future.

In the future, what people need is a contract service system that is transparent enough, safe and efficient, and does not cost too much for anyone. It will not be lost. It should be better, safer and more reliable than paper contracts. Even developers cannot change the content of the original contract or destroy it. It has better judicial notarization and publicity effects.

The digital contract and digital seal solution based on blockchain technology is based on this concept. In the blockchain, each block has its own unique hash value. No one can modify the content in the block privately. Private modification will cause the block hash value to change and be rejected by the entire network. It is based on this security feature of the blockchain that we write the verification algorithm of the contract into the blockchain, so that no one can cheat or destroy the agreed content of the contract. We can even write the environment, people, things, etc. of some important events into the blockchain for permanent preservation. It is also an open source technology, and it will have the same security attributes as digital currency. In this solution, the contract-related people or units, government departments, are efficiently combined and each performs their duties. A smart, maintenance-free digital contract solution architecture is realized. We imagine that in the future, any country, person or unit can sign an agreement in this framework. It will be the most powerful convention system in the future Internet of Things world. It will act on human life, maintain all aspects of world order, and benefit mankind.

3. Technical description of the construction of the Bitcoin Network blockchain contract and seal

The blockchain contract solution of CoinNetwork is built on the micro-coin digital blockchain of CoinNetwork, and we hope to apply this technology to our IoT solutions or economic environment. In CoinNetwork, signature verification and information message are supported. We will write the content of a contract into the signature information after SHA verification, and the contracting parties will initiate a transaction to write these data into the blockchain. In the contract solution of CoinNetwork, the contract itself has privacy, and the content of the contract will not be written into the block (or only the encrypted content will be written into the block). After a contract is formulated, the contract file will be encrypted and verified by SHA256 to prevent the content from being modified privately afterwards. The SHA value is written into the block to determine the uniqueness, legality, and publicity of the contract. The parties who initiate the contract confirm their respective entities through the CoinNetwork wallet address.

The digital contract solution of the CoinNetwork includes working modules such as digital identity verification, content verification, and participant verification. Each module is closely connected with the blockchain. Among them, the digital seal and the signature of the person on the contract belong to the identity verification part. In the historical records of the blockchain contract solution, even the earliest drafter of the contract can be traced back.

Some contracts even involve personal or corporate privacy or confidentiality. For such contracts, we have also made detailed planning and design to solve problems that were difficult to achieve with paper contracts in the past. We hope that in the future, users will only need to send a text message, an email, a string of characters on a chat tool, or scan a QR code to complete the signing of a contract. It even allows two people who do not know each other to sign an anonymous contract. It even includes the establishment of digital contractual relationships between people, hardware and people, and hardware and hardware.

Whether it is a digital seal or a personal digital seal, it will be written into the block to make the identity public. The public disclosure here is anonymous, but it can be verified. The wallet private key is unique, and the encrypted digital seal is also unique. Here, the digital seal contains an encrypted string and a QR code image reflecting it. The following is a concept prototype:

IV. Acknowledgements

Thanks to the enthusiastic help from the members of the BiNetwork community. The growth of BiNetwork is inseparable from everyone's active support and response. Let us work together.

Author: 642
BTC address: 1LFRJod9JatD8fPbDt5UQeQfQMLWtBZo1y
vpncoin address: VnRxhWgnWcEHK9c1edjVN1T3DT5Has6xsV