Using the Cardano blockchain to issue immutable proofs for documents that can then be use to verify said documents' authenticity.
Using a web application institutions, governments, corporations, and anyone else who wants to will be able to issue documents with an attached proof of authenticity that is verifiable through the Cardano blockchain. Then, using an Android or iOS applications, anyone will be able to scan the QR code generated by the authentication procedure to confirm the authenticity of said document.
How it Works
A user, a university for example, will upload a digital version of the certificate they want to issue on the blockchain. The Blockademia web application then creates a hash from this document and sends that hash to the blockchain as transaction metadata. A QR code is generated that is uniquely tied to the blockchain verification of that document.
Someone looking to verify that document will then scan the QR code using the mobile app. If the QR code is a true code it will return with information about the verified document, such as: which institution issued it, who it was issued to, when it was issued, etc. This can then be compared to the physical copy of the document to confirm that it is authentic and not a forgery.
Different User Levels
There are four different levels of user depending on the needs of the individual or institution. These levels are obtained by staking the applications native token, ACI. The token requirement varies from 1000 to 50,000 depending on which level of tools the user wants or requires. The required holding amount for each user level will decrease in correlation with the growth of active document issuers on the platform in order to continue to make it accessible to new document issuers.
ACI Token Functions
These tokens have more utility than simply staking. They are also required for:
- Paying fees on the platform
- Rewarding successful referrals: with a one time payment and a lifetime percentage of the referred’s transactions
- Treasury financing
Tokens can be locked to earn additional yields of 10% per year, in ACI tokens, and locking tokens grants access to some, yet to be defined, advanced functionalities of the system. It does not say what these yields are given in addition to as there is no mention of yields elsewhere in Blockademia's documentation.
When Cardano enters Voltaire Blockademia will transition to being completely community governed through a DAO funded by a treasury
Each transaction competed on the network needs to be paid for in ACI, and this is redistributed with the majority, 65%, going to the “manager”. Currently this is the entity that owns Blockademia but, in the long term, it is said to be "the community". This is assumed, but not implied or stated, to be the DAO treasury.