On April 18, 2018, Paris-based hardware wallet manufacturer Ledger, officially announced added support for the Woleet project, a blockchain-based timestamp, and signature app, to its crypto hardware wallet Ledger Nano S.
A Cost-Effective Way to Certify Digital Documents on the Blockchain
In the existing physical system, authenticating documents can lead to discrepancies and human error thus slowing down logistics processes in all industries. However, with an immutable and tamper-proof alternative, like a blockchain, authenticating documents and signing contracts can become more secure, transparent, and cost-effective.
As for Woleet, the firm has expertise in data anchoring, whereby it permits data sets to be linked to a Bitcoin transaction. The digital fingerprint of the data is permanent, and time-stamped, while at the same time being publicly visible on the network. With this added feature integrated into the Ledger Nano S, users can directly certify documents. Recently, Ledger also revealed to add support for Bitcoin Private (BTCP) on Ledger Nano.
Ledger stated “We are truly excited about the advent of these technologies and proud to announce that one of the most innovative services – Woleet – is now available to Ledger users. Woleet has developed a custom application for the Ledger Nano S, available to download using the Ledger Manager.”
Both multinational companies and small enterprises are flocking to some version of blockchain technology, but it has only a few years since the real potential of the technology has emerged.
Second Layer Blockchain Application Wave Is Likely
Blockchain technology in itself is revolutionary, but the addition of second layer applications built on top of some blockchain networks has led to the use of the innovation for an unforeseeable number of other applications. Woleet, for instance, leverages Bitcoin’s blockchain to allow users to develop timestamp proof of existence.
Such tools can bring transparency and efficiency to projects that require the securing of sensitive data along an immutable network. Some companies also offer such services at the enterprise level, but these examples tend to be much more expensive.
Woleet’s method, however, makes blockchain-based document authentication available for all at a minimal cost. Moreover, many of the new second layer innovations have focused on employing the technology in other fields than just the realm of finance.
Are second layers applications the next wave in the crypto craze? Share your views in the comments section.