Apostille is a holistic blockchain notarization system. In this system, notarizations are not static one-time timestamps, but instead can now be dynamic, moving, changing, and updatable values on the blockchain. Companies or applications using and building upon this service can determine how their Apostille container addresses, each with its own private key, are made and interact with the authority given by namespaces, the value and status represented by digital assets sent to that account, and the information sent as memos. Furthermore, they can optionally customize the open-source Apostille system to make an application convention framework to best utilize the above features.
The key innovation of the Apostille blockchain notarization service is not to just make a one-off timestamp of a fingerprint of a document, but instead to also take that document and combine it with the user’s account information to make a special and unique private key just for that file. That file’s dedicated private key is used to make an hierarchical deterministic (HD) account, i.g., an Apostille container address. The system then makes a fingerprint of the document by hashing its contents and then signing that hash with the private key of the user. That signed fingerprint is sent in a transaction to the HD account. This HD account now contains both file metadata and its fingerprint, so it can be said to be “colored” with that file.
Once an Apostille container address is made, it not only contains proof-of-existence a document existed at a time, but it also can be updatable with memos and messages, can be brandable so that it is created as a part of a unique designated line of products making them authenticate, and furthermore using NEM’s advanced multi-signing contracts can be transferable from person to person.