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💡 Project Background
Everyone needs trust in order to interact with each other. Trust shapes the direction of national growth and it is fundamental for every healthy economy.
Due to the recent economic shift, the way businesses work has changed. Now we have automated services, humans talking to machines, and vice versa. In the internet era of content, everything can be copied. In the past, there was no way to create digital scarcity in a purely digital space. However, this problem is solved with the help of a trust machine, designed and developed by Satoshi using existing technologies e.g advanced encryption mechanism and consensus algorithm.
All human actions that require trust can rely on blockchain for proof using the history of transactions that have occurred in the past. Businesses need to keep a record of proof that a deal is signed or an event has happened at a certain point in time.
In the past, in order to have proof of signed documents governments have designated drafters and notaries to keep a journal of proof. This journal will be used in the future if some agreeing parties attempt to breach the terms of transactions.
Notaries are the authorities given the power to certify documents, reactions, transactions, and identities. While their set of duties are vast, one of their main duties is to certify documents that bring most of the money. Notaries are important gatekeepers of the economy, particularly establishing property rights, wills.