HOW it works
Evident Proof is a platform that leverages the Ethereum blockchain to provide immutable and verifiable evidence of the provenance of data records.
It’s been built to respond to the growing need of businesses, organisations and even individuals to justify and verify many of their data activities.
An IPAAS service
You can think of Evident Proof as an ‘Immutable Proof As A Service’ or ‘IPAAS’. It receives the data of a business, organisation or individual, encrypts it, then creates a unique signature — a seal — for each. These are stored it in an immutable ledger, called a proof chain, which lives on both a private and a public blockchain.
A receipt and an Evident Proof Token (EPT) payment for each seal successfully added to the proof chain is sent to the service user. The receipt is the key to invoking the use of an associated seal in a proof-certificate request. Meanwhile, a token (or a fraction of a token) can be used as payment to request proof certificates in the future.
Requesting certificates
At any time after depositing the data, a service user can request immutable proof certificates (to be given to them or a third party) to provide evidence of the accuracy, compliance, provenance or time order of data. They simply submit a proof request, then the platform compares the proof request data with seals held on the private blockchain, and generates the proof certificate. The certificate indicates whether there is any difference between the original records and the seals. The information on the proof certificate can be further verified on the public blockchain.
The real-world benefits
Individuals can use the Evident Proof service to proof chain personal activities and information — allowing them to manage who sees their data. Organisations can use Evident Proof for a wide range of purposes, including to verify their operational activities, as business intelligence, to prove provenance and product quality, provide evidence of compliance, and better manage risk.
For example, “proof-seal certificates” could provide immutable evidence (and therefore legally demonstrate) that a replica football shirt was made at an official supplier’s factory. An oil company could defend itself after a damaging leak by using certificates to prove it has maintained the circuitry. Alternatively, certificates could prove every manufacturing step and test carried out ahead of the release of a new medicine.
Evident Proof Tokens
As mentioned, the platform generates Evident Proof Tokens to the organisations or individuals that deposit data. They can use them to request proof certificates, to allow third parties to request a certificate, to request evidence, or to pay service fees.
The number of tokens issued in total will be capped. Up to 100 million will be issued to contributors of the presale and ICO. Up to 400 million for the long-term operation of the service (including the 100 million issued at presale and ICO).
As a consequence of the cap, the fraction of a token issued against each seal must be revised downward in order to assure the cap of 400 million tokens is not exceeded. This means that the value of each EPT would be expected to rise.
The platform
The Evident platform is a secure cloud-based SaaS platform. As mentioned, the service saves proof chain details to two blockchains. The public blockchain serves as a system for scrutiny and trust in the log of evidence seals. The private blockchain offers speed and a secondary level of verification.
REST-based web services provide standard interfaces for system integration and access to data and the proof certificate service. The platform is built on a secure, robust and scalable cloud architecture, using virtualisation and containerisation, and adhering to the latest security and encryption standards. All client data is fully encrypted using Logical Separation of Servers and Virtual Machines, hosted by a leading cloud provider with firewall & VPN technology.
Have questions? Join us in our Telegram room to speak with our team members: https://t.me/EvidentProofOfficial
