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April 18 2017

VeriDoc Secures Acceptance into IBM Program

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Australian headquartered VeriDoc Limited has received acceptance into the IBM Global Entrepreneur Program and will utilise its distributed ledger technology as part of its solution.

The IBM Program which equips start-ups to quickly bring solutions to market on the industry leading distributed ledger technology platform will accelerate VeriDoc’s product development.

Acknowledging the potential of IBM’s technology to fast track product development VeriDoc’s Joint Managing Director Mr Steve Chant said this is a significant step in the VeriDoc journey.

“The unique permission structure of the IBM distributed ledger, means that no one can add or alter VeriDoc’s PDFs without a record of change being created.”

“This ensures the VeriDoc solution is secure and synchronised at every point,” Mr Chant said.

IBM Global Entrepreneur APAC, Director Mr Brendan Yell welcomed VeriDoc to the IBM Global Entrepreneur Program.

“We are excited to be working with a company who is harnessing the transparency and permission based benefits of the system.”

“VeriDoc is one of only a small number of start-ups we are working with in the Asia Pacific region who are leveraging the distributed hyper ledger to this extent,” Mr Yell said.

VeriDoc is an anti-fraud document verification system that ensures the user is looking at a true and correct document created by the issuer.

The cryptographically signed ‘VeriDoc’ is verified with a digital imprint being stored permanently on a public blockchain network.

Using any third party QR reader, users can verify the authenticity of a VeriDoc document instantly.

The QR code and associated signature information in blockchain can never be altered therefore it ensures a document’s content is protected. With experts predicting the application for this technology to grow, VeriDoc is currently targeting academic institutions, banks and government agencies.

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