he arbitration body in the Chinese city of Nanjing launched an online system with an integrated decentralized network that will be used to store data on legal disputes. The information will be stored by specially selected nodes, such as financial institutions and arbitration committees.
The integration of the Blockchain into the legal proceedings is aimed at making possible to issue orders within a month after the filing of the application, as well as to reduce the costs previously incurred by the parties in legal processes taking place offline. It has also been announced that a decentralized system will protect participants’ documents from unauthorized access.
The implementation of the Blockchain became possible thanks to the recent decision of the Supreme Court of China, which officially began to recognize the verified documents and evidences stored in the decentralized network as having legal force.
This is not the first time that Blockchain has become a technology on service of the state institutions in China. Earlier, the Guangzhou Arbitration Court began to use the Blockchain for storing information on loans. Now Chinese online banks don’t need to file a case against debtors – every time there is a delay in payment, the court automatically issues a decision.
These solutions are by no means the know-how of Chinese developers of Blockchain platforms. The implementation became possible only due to the fact that the Chinese authorities realized how much this technology can facilitate the life of citizens of a densely populated country. ENDO Protocol offers a similar solution that can be implemented to any country or region. In addition to a powerful ecosystem, it requires only two solutions that the ENDO Protocol has already developed. Firstly, the KYC, due to which the name and other data of the person can be verified, and secondly, Workflow, which provides remote and protected access to any documents stored.
Speed, simplicity, intuitive interface and accessibility are the main features of ENDO Protocol, which, together with a powerful system of protection of stored data, will create all conditions for increasing the efficiency of the judicial or other systems.
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