JustChain, a blockchain solutions start-up and MBRIF member, introduced a brand-new platform that allows legal documents to be notarized digitally and securely from anywhere.
The UAE-based blockchain solutions company has recently launched the world’s pilot blockchain-based notary platform dubbed “NotaryChain.”
The launch of the new solution is a result of a recent approval nod from the UAE Cabinet on digital signatures, and its application to notary services is in congruence with UAE’s Vision 2021.
JustChain is a member of and is backed by MBRIF (Mohammed bin Rashid Innovation Fund), a federal initiative initiated by the UAE Ministry of Finance and operated by Emirates Development Bank. Currently, the MBRIF includes two programs viz.,
- Guarantee Scheme (launched 2016)
- Innovation Accelerator (launched 2019)
What does NotaryChain offer?
NotaryChain permits legal documents to be notarized digitally and in a secure format from anywhere, offering time and cost savings for the notary public and customers.
Feature-rich, the NotaryChain comes with advanced features such as single sign-on using national identity (UAE Pass), electronic seal, digital signatures, integrated artificial intelligence verification for Emirates ID, built-in templates for notary documents, QR code-based instant verification of notarized documents, and more.
On the innovation front, NotaryChain is engineered on top of an enterprise-grade blockchain platform and contains tamperproof security, convenience, speed, and instant verification of notarized documents such as Memorandum of Association, Marriage Certificates, Contracts, Power of Attorney, and more.
The platform is available as a cloud and on-premise solution.
The experts’ take
Fatima Alnaqbi, Chief Innovation Officer, MBRIF Representative of the Ministry of Finance, said, “The MBRIF always seeks members whose innovative businesses can bring something exceptional to the UAE. We are thrilled to see the success and growth of JustChain, leading to exciting new technologies that will benefit our society. The MBRIF will continue to seek and support innovators who will actively contribute to the UAE’s digital economy transformation journey.”
Mohammed Akbar Farook, CEO of JustChain, said, “NotaryChain represents a new era of accessibility, convenience, and productivity for the notary public. Based on blockchain technology, the platform offers a secure and tamperproof digital alternative to the traditional process of having to hand-deliver and notarize documents. This is in line with the UAE’s national strategy for blockchain as well as the Dubai Paperless Strategy that is being implemented throughout government entities in the emirate.”
Earlier this year, the start-up introduced a blockchain app that can anonymously track COVID-19 patients, share real-time critical case information safely with the right health providers, clinicians, government authorities, medical suppliers, laboratories, and researchers to be able to offer immediate care and attention.
