The world’s first blockchain-based notary platform, NotaryChain has been introduced by JustChain, a UAE-based startup focusing on developing blockchain-based solutions for justice and public safety.
JustChain said in a statement that NotaryChain allows legal documents to be notarised digitally and securely from anywhere, providing time and cost savings for the notary public and customers.
This blockchain platform is a member of the Mohammed bin Rashid Innovation Fund (MBRIF), an initiative launched by the UAE Ministry of Finance and operated by Emirates Development Bank.
NotaryChain provides tamper-proof security, speed, convenience, and instant verification of notarized documents such as power of attorney, memorandums of association, contracts, and marriage certificates.
Also, the startup initiative offers advanced features, including single sign-on using national identity (UAE Pass), digital signatures, electronic seal, integrated Emirates ID artificial intelligence authentication, QR code-based instant verification of notarized documents, built-in templates for notary documents, and so on.
Fatima Alnaqbi, Chief Innovation Officer, MBRIF Representative of the Ministry of Finance, said, “The MBRIF always seeks members whose innovative businesses can bring something exceptional to the UAE. We are thrilled to see the success and growth of JustChain, leading to exciting new technologies that will benefit our society. The MBRIF will continue to seek and support innovators who will actively contribute to the UAE’s digital economy transformation journey.”
“NotaryChain represents a new era of accessibility, convenience, and productivity for the notary public. Based on blockchain technology, the platform offers a secure and tamperproof digital alternative to the traditional process of having to hand-deliver and notarize documents. This is in line with the UAE’s national strategy for blockchain as well as the Dubai Paperless Strategy that is being implemented throughout government entities in the emirate.”
Recently, JustChain has introduced a blockchain framework to monitor COVID-19 patients by securely exchanging real-time critical case data with concerned healthcare professionals, physicians, government agencies, medical suppliers, laboratories, and researchers.