When we designed trace:original, we wanted to reintroduce the "document" to digitisation. For a very long period, hundreds of years, the paper has been what we use for individual original documents. When IT solutions were developed, the document was de-constructed and data representations started to be used instead. Systems were created with data extracts stored in databases and other storage media. With trace:original we have re-created the document itself but we have done it completely digital. To do this, we had to digitally re-create where the document ends and where it begins, we had to delineate what data is on the document and what data is outside. Furthermore, we had to ensure ownership and availability of the document and that the holder can add notes to the original document but also make it impossible to change or delete anything that has already been written.
With the help of cryptography, we have been able to create a digital "paper", a digital "thing", with additional useful digital features that no physical paper has. It is possible to safely validate that a copy is an exact copy of the current original, it is impossible to manipulate and modify what was once written and still validate the document as a version of the same original.
The business value trace:original offers is the ability to create and manage digitally-born negotiable original documents that should not be stored in a central registry. A trace:original document is a valid master original that only the current owner can update. As with paper, the holder can store a trace:original document digitally anywhere.
Enigio trace:original is a patented cryptographic security system with central governance of a public distributed blockchain ledger which is continuously validated and approved by the issuers and voluntary participants. Participating nodes are either approved Full Nodes with full rights to request all operations against the ledger, or Stakeholder Nodes with limited rights.
Holding a document is ensured by holding the private key in a cryptographic key pair. The corresponding public key for the current holder is published in the distributed public ledger from which anyone with internet access can do verifications. The ledger is cryptographically blockchained to ensure immutability and make manipulation impossible without all participants instantly knowing and recognizing this. All nodes have their own copies of the ledger which they continuously validate using cryptography and mathematics.
Amendments or transfers of the original to another holder, carried out by the current holder, are also published in the public ledger. The content of the public ledger is completely anonymous as it only contains cryptographic hashes and signatures (see Explorer). All secret business data is in the trace:original file.
Each trace:original document can have multiple copies that freely, by anyone, can be validated as a correct copy of the current valid original. One trace:original document can be created, modified, transferred or annulled, but what is written can never be changed (not even by the holder) and the traceability is immutable in the shared blockchained public ledger. A trace:original document is freely transferable to anyone with access to internet.
The document is readable by both man and machine (Ricardian contract), which makes it possible to streamline processes, remote management and digital remote signing with, eg. Swedish BankID without having to send it physically or having to meet physically. Information in the document can be structured so that large number of documents can be read and validated lightning fast without the necessary manual control or intervention of intermediaries or notaries.
A trace:original document is a new type of simple text-based information bearer in a Yaml format. The text format is UTF-8 to keep it simple and long-term preservable as well as being readable and possible to open with most available applications. The document itself also has a cryptographic blockchain structure where every new amendment to the document is protected with a cryptographic seal that is also logged in the public ledger to make the contents of the seal impossible to manipulate and at the same time validate it as correct.
The public ledger is also text-based and copied to all participating nodes. The ledger is published in a number of public places such as Github, public servers on AWS etc.
The ledger is split into Blocks that are cryptographically linked to each other, each block is timestamped using a linked timestamp where publications are made in other blockchains such as Bitcoin and Ethereum (see time:beat and published ledger on Github: https://github.com/traceoriginal ).
To gain a better understanding of the system's function, contact Enigio.
Easy for everyone
It is completely free to own, manage, transfer ownership and validate a trace:original document. The only thing that costs is to create new digital originals, all management and ownership after creation is free of charge. The asset is freely transferable.
Contact Enigio if you as a company are in interested in being able to create, manage and save your own digital originals.