Let’s be bold!

Blockchains as trusted third parties

The Blockchain is a wonderful tool to act as a trusted third party in a wide range of use cases. The key feature is the possibility to time-stamp any piece of data (or its “finger-print” (hash)) in an immutable an crypto-proved manner.

Of course, besides the security of the protocol itself, the strength of this proof is directly correlated to the size of the networks of miners, to its computational power and to its level of distribution/decentralization.

As of today, both the Bitcoin (supported by the Bitcoin Foundation) and the Ethereum (created by Vitalik Buterin) blockchains are considered to be adequate to provide strong enough crypto-proofs of time-stamped data. The doubtful reader can comment this article and we will provide her/him with references supporting this statement.