Evident Proof aims to deliver immutable data, provenance and proof services to businesses and enable proof and provenance services to individuals.
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About Evident Proof
Evident Proof aims to develop a blockchain-based platform for provision of immutable proof, enabling the use of data transactions as dependable evidence. The platform creates unique signatures or seals for digital records (i.e., hashes of the data) and stores them in an immutable ledger (the proof chain), from which reliable proof certificates can be obtained on demand. Proof certificates are reports that verify the correctness, completeness and time-order of digital records submitted as evidence, or indicate if there is any difference between the data items and their seals. Submissions of requests for proof certificates include the data items being used as evidence paired with the receipts to their seals, along with the scope, order and time period of the proof required. EVT tokens are required for making requests for proof certificates on the platform. Whenever a user adds a seal to the proof chain, they are rewarded with a token (for future use or transfer) along with the receipt (the key to invoking the use of the associated seal in a proof certificate request).
Product
Evident Proof aims to provide a solution for data management, compliance, reporting, and other due diligence purposes, with a service that maintains immutable chains of evidence seals which can be used for verification when necessary. Theoretical use cases range from individuals storing their CV’s to enterprise licensing systems. The company envisions the platform as one that “will enable evidence of legislative compliance, provenance as service, risk management and eventually court ready evidence.”
- The whitepaper states that “Evident is able to demonstrate that the technology is working now with live client data and they have enterprises who intend to use the platform in the future.” However, links to an MVP or a Github repo are not provided.
- The project appears to be conceptually similar to Proof-of-Existence (poex.io), the same concept used by Po.et for creative content, but with a more business-related or legislative orientation. Competitors include Tierion, Acronis, and PeerNova.
Use of Blockchain
The proof chain is to be maintained simultaneously on two blockchains — one private and one public. The private blockchain is used for all regular service support and for generating proof certificates for primary service users (allowing for optimal transaction costs and speed), while the public blockchain guarantees the private blockchain’s integrity and immutability, and is the method for generating proof certificates for secondary service users. - Primary Service Users will be registered users of the service under a service agreement, while Secondary Service Users will be organizations with time-limited permissions enabled by a primary service user to generate proof certificates.
- A seal will be “a hash encoded (e.g. 256 or 512 digit SHA-3) version of the value field of a KeyName/Value pair in the evidence data. Appended to this is meta data of the dispatch and the KeyName.”
- A proof certificate will be comprised of a header (with request information), a primary table of results comparing the data to the seal, and a secondary table with reference data that can be used to independently verify the primary table from the public blockchain.
- EVT tokens are to be generated only when data is stored on the platform, and used to request proof certificates.
Whitepaper
Evident Proof provides three documents: a whitepaper, a technical whitepaper, and a platform overview.
The platform overview is clear, concise, and provides the necessary essential information regarding platform use and operation.
The whitepaper is similarly clear, concise, well-designed, and provides a greater amount of information regarding the value proposition, product and market, the token sale, and the company and team, as well as the platform technology, including theoretical use cases with record data schemas for: Government Licensing Systems, IOT in the Oil Industry, Bicycle Manufacturer, Security and Compliance Consultancy.
The technical whitepaper is presented in the style of an academic paper and provides a detailed account of the planned solution, platform operation, data flow, use of tokens and certificates, implementation and architecture, and applications.
The documents provided are clear, coherent, and consistent in their descriptions of the platform.
More information is required with regard to the business plan in terms of the company’s own business model and strategy, which are not really presented. The roadmap milestones are few and vague and end in plans to “Develop business exit” in 2021+, and token allocation and use of proceeds, while well-defined, are presented with no accompanying details, explanations, or rationale.
See the full ratings here: https://cryptorated.com/ico-rating/evident-proof/