Lock-A-Doc™
Lock-A-Doc™ is used at the moment of the creation of an important document such as the sketch of an invention, the signing of a contract, or the execution of a will. The app captures an image of the document and images (selfies) of the parties, as well as date, time and location.
It then mints a non-fungible token (NFT) that secures this set of data on the Veritable blockchain, making it available to the parties at their convenience. Another way to understand Lock-A-Doc™ is to say that it creates and stores metadata for paper documents, enabling future viewers of those documents to confirm their authenticity.
Lock-A-Doc™ is currently available as a function on the Lock-A-Doc™ Notary App, and it will eventually be added to a consumer app.
Lock-A-Doc™ Use Cases
Documenting an Invention
Patent lawyers recommend that inventors keep good documentation about their invention prior to filing their patent application. As part of this process, they are advised to have multiple witnesses sign their designs, attesting to the fact that the inventor created them. Lock-A-Doc™ is a better witness than any human being could be. As soon as the inventor creates their design, they should scan it with Lock-A-Doc™, which will then mint a non-fungible token (NFT) and store the document on the Veritable Blockchain. In addition to the image of the document, the NFT assembles and protects the date, time, location and image (selfie) of the inventor.
Documenting a Contract
Imagine to potential business partners, sitting in a diner and writing out the terms of their agreement on a napkin. Typically, they will seal this deal with a handshake, but Lock-A-Doc™ locks the terms of the agreement in stone (so to speak). By using the app, they will capture the agreement, their signatures, their images (selfies), and the date, time and location on the Veritable Blockchain. Our NFT technology secures all of this data and makes it accessible to all parties if it becomes necessary to prove the terms of the agreement.
Documenting a Contract
Imagine to potential business partners, sitting in a diner and writing out the terms of their agreement on a napkin. Typically, they will seal this deal with a handshake, but Lock-A-Doc™ locks the terms of the agreement in stone (so to speak). By using the app, they will capture the agreement, their signatures, their images (selfies), and the date, time and location on the Veritable Blockchain. Our NFT technology secures all of this data and makes it accessible to all parties if it becomes necessary to prove the terms of the agreement.
Documenting a Will
Too often, heirs find themselves contesting a will because there are multiple versions, each of which provides differing benefits. The testator can prevent this eventuality by securing their will with Lock-A-Doc™, which will capture their image at the time of the signing of the will, an image of the will in its entirety, as well as the date, time and location. If they later amend will and use Lock-A-Doc™ again, there will be little way to dispute which version came last.