What is DocuTrack
DocuTrack is an open source alternative to traditional document sharing platforms as part of the traditional enterprise IT stack, allowing:
Send and receive documents in fully encrypted format;
Provide the highest security guarantee for communications between enterprises and their suppliers;
Improved customer onboarding (KYC and AML), signature collection, and user experience for businesses.
This use case highlights how dapps on Internet computers can serve traditional financial institutions and help enterprises evolve their technology stacks to be more private by default. User data on DocuTrack never leaves the browser in clear text, it is in transit The process is encrypted and processed by the node executing the transaction via chain key encryption.
It leverages ICP's threshold security scheme - anyone can authenticate, while only authorized parties have direct access.
Why choose blockchain
The idea for DocuTrack grew out of the Zurich-based bank’s frustrations and ongoing challenges with document sharing, as well as some privacy concerns around data security and sensitive communications with customers and suppliers.
Leveraging the Internet Computer Blockchain, they and other businesses can now access a novel infrastructure to share documents and collect signatures in an encrypted, fully decentralized manner. The decentralized nature of ICP guarantees that data is stored by nodes and persists. Authentication, supporting the integrity and security of user data.
This set of capabilities is critical for all businesses, but especially for financial institutions, law firms, and other parties that need to access files and sign private documents that deal with privacy-sensitive clients. In addition to security assurances, DocuTrack also improves The financial institution’s user and supplier relationship experience makes it easier for customers to complete the onboarding process.
How DocuTrack works
Using DocuTrack is easy - through a web browser, anyone with internet access can upload files from their device and set them up to be key-protected.
The sender can then set up specific recipients who can access and decrypt the file key, thereby accessing the file without providing any personal information (such as email address, password, or location) and facing any centralized Private issues.
Open to everyone, DocuTrack also allows users without internet identity to start sharing files with registered users through a file sharing request initiated by the recipient. DocuTrack has already demonstrated the value of this feature - allowing its POC partner (Swiss Private Bank) to seamlessly collect Sensitive customer information and signatures as part of their ongoing banking services.
DocuTrack's backend uses cryptography to encrypt file shares through four stages:
Key generation: The sender and receiver agree on a key and maintain encryption during the interaction;
Encryption: The sender uses the key to encrypt the data and turn it into ciphertext;
Transmission: The receiver receives encrypted data through a secure channel;
Decryption: The receiver uses the same key to decrypt the ciphertext and recover the original data.
It’s still day one for enterprise blockchain
With most enterprise IT stacks still relying on legacy infrastructure and operating through centralized systems, the launch of DocuTrack sets an important milestone in the era of IT stack migration to blockchain.
This trend has been on the rise over the past year, with growing enterprise interest in how blockchain can improve processes and the challenges it faces, and ICP's growing computing performance over the past few months has also been a significant factor - now supporting more Cloud application use cases sitting on traditional cloud infrastructure.
Ready to use out of the box, GDPR compliant
DocuTrack can be configured to be GDPR compliant directly via ICP’s EU subnet, offering a fully regulated service despite its privacy-preserving blockchain architecture.
As a native decentralized application that sits directly on ICP, businesses and everyday users can now migrate from services like Dropbox and DocuSign to more securely send and receive files through DocuTrack without any regulatory risk.
in conclusion
DocuTrack’s open beta sets a new standard for document processing and customer communications inside and outside financial institutions, and DFINITY is excited to continue building a more decentralized world where privacy and security are resolute and guaranteed, from day one Launching DocuTrack as open source software means anyone can iterate on the white label solution and add new features to the platform.
As part of its commitment to ICP and a decentralized future, the foundation will continue to improve DocuTrack and build more tools to accelerate the adoption of blockchain technology in the enterprise world.
If you're interested in using DocuTrack or learning more about building SaaS applications on Internet computers, see DocuTrack's GitHub or get started on your own here:
github.com/dfinity/ic-docutrack/tree/main
wavpu-oiaaa-aaaam-aabuq-cai.icp0.io
Learn more about Internet computers:
internetcomputer.org
#DocuTrack #ICP🚀🚀 #DFINITY $ICP
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