There are millions of documents which are generated everyday across organisations in almost all industries. These documents are not only shared internally within the organisation but also find their way outside to a range of stakeholders who need to consume the information and process it for various purposes. It is essential that such documents with valuable information are trustworthy so that they can be effectively used by those who don’t have ready access to the source of the information for verification. Qryptal’s aim is to enable information sharing through documents with full trust, security and privacy in the most user friendly manner with high efficiency to save on costs and time. This is what the team at Qryptal relentlessly focuses on. Qryptal has solutions catering to a wide variety of industry verticals and use cases.
We will look at some relevant use cases in a few representative industry sectors to get an idea of how Qryptal’s technology and solution can be used.
The moment any product/service is bought or sold, there has to be a proof of the transaction which is usually in the form of an invoice or bill. Hence, invoices and bills are documents which are generated and used in all businesses and transactions whether they are big or small, public or private. It is therefore essential to be able to trust these documents so that they can be processed efficiently.
By the very definition, these are also subject to regular alterations typically unauthorized to serve a specific purpose for example to overstate/understate the value of goods, or their description, quality etc with an aim to save on taxes, duties and so on. This can distort the real picture and result in direct monetary loss to counterparties and governments. It becomes necessary to tackle this problem by making sure that all invoices and bills are system generated centrally and can be validated by anyone in a simple way to verify the authenticity and check for all the details.
Qryptal can help to capture the data on such documents in the form of a secure QR code before it gets printed either physically or electronically. In addition the QR code will also have the digital signature of the issuing organisation so that unauthorized modifications can be identified and stopped. This can be then validated by different stakeholders (the counterparty, the government, auditors, bankers etc) and the verified contents can be used for the purpose required with full confidence.
See an example of an invoice with a Qryptal QR code
The system architecture for generating such an invoice and the onward processing looks like
Using such an invoice generation system offers significant benefits
The human resources function in any organization is crucial and has to deal with as well as generate several documents which serve different purposes. Educational certificates are just one example of such documents and are an input into the human resources function. Other examples include: joining or employment offer letter, discharge or exit letter, experience certificate (which could also include information about the last position held, the number of years worked and in some cases last salary drawn), regular payslips and so on. Some of these docuemnts serve the purpose of a proof when applying for a new job, for a loan, for a visa, opening of a bank or brokerage account or other similar requirements.
Since these are used as proof and inputs for important transaction processing, there is an incentive to manipulate the information to suit the requirements or burnish the credentials. There have been multiple instances of fake or tampered experience letters and pay-slips being submitted to improve prospects and get better outcomes. It requires time and effort to verify the authenticity of such documents and may not always be possible. As a result there is a risk that the company might take a wrong decision based on these documents which can have serious long term implications for the organisation. There is a need to be able to verify the information in an easy way thereby enabling trust in the documents being presented.
Once again a way to tackle this problem is by making sure that all such documents are system generated centrally and the information on them is captured in the form of a Qryptal secure QR code before it gets printed either physically or electronically. In addition the QR code will also have the digital signature of the issuing organisation so that unauthorized modifications can be identified and stopped. This can be then validated by different stakeholders to whom it is presented (other employers, banks, embassies and visa processing service providers etc) and the verified contents can be used for the purpose required with full confidence.
A sample of a service certificate with a QR code encapsulating the details is shown here. On scanning the code all the details contained inside it is visible for verification.
Using such a system offers significant benefits
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