Authpaper, a Hong Kong startup working on electronic document stamping solution, started a P2P data courier solution which can deliver a huge amount of data or documents encrypted with an unforgeable delivery record.
Building a custom blockchain with delivery records, they aim to solve the multi-billion document fraud problem and speed up businesses of international enterprises by replacing the slow and expensive physical document courier services.
Physical mailing has been the default way to deliver documents and small goods between parties, especially the commercial and important ones. It is because only physical mailing or courier can provide a guarantee on delivery while making sure no one can read the data content.
The mailing business is huge. For example, Hong Kong Post delivers over 3.28M commercial documents every day inside Hong Kong in 2017. The delivery fee is around 2 to 32 Hong Kong dollars (HKD) per mail, it means in Hong Kong alone the market size is at least HKD 6.56 million per day. SF Express (顺丰), one of the largest delivery service providers in the Greater China Region, worth around 190 billion Renminbi (RMB). UPS also worth around 110 billion US dollars (USD).
Companies nowadays deliver documents via electronic medium, like email and online messengers. They provide nearly instant delivery, but the content will be known to the service providers, so are not suitable for private data. S/MIME allows people to send out encrypted emails, but the adoption is very low. There is also a size limit on the attachments.
Online storage providers like Google Drive and Dropbox give terabyte of storage for users to keep data online and share to others. There is a concern about data privacy when using cloud storage. Data breaches like an iCloud hack in 2014 are more and more nowadays.
Besides, the speed of delivery, on the other hand, is generally limited.
Which of the following is the fastest way to deliver 2TB data from San Francisco to Hong Kong?
1) Dividing the data into small packages and send them one by one via email.
2) Uploading to an FTP server for the other side to download.
3) Uploading to cloud storage and ask the other side to download.
4) Copy it to a hard disk, and send the disk to the other side by courier.
Surprising to most people, the answer is 4). This typical question in technical job hiring has brought the attention of Authpaper’s CEO, Solon.
“Even in the era of information technology, physical courier is still the most guaranteed way to send private documents and the fastest way to send huge data. It is not good. We need to do something on it.” — Solon, CEO of Authpaper Limited
To enter a mature industry like data courier as a startup, Authpaper has to think out of the box. Authpaper Delivery combines blockchain, BitTorrent, cryptography and other current technologies to build a peer-to-peer digital data delivery platform. All data delivered is confidential except the specified recipients.
Data is verified to be unchanged down to every single bit. Peers are rewarded on the Authpaper blockchain as they seed data they cannot read to speed up the data transfer. All delivery records are stored on blockchain so that they are public verifiable yet unforgeable.
Unlike projects like FileCoin and BitTorrent (BTT) coin, peers are awarded for speeding up the delivery, not keeping data. Peers will actively seek new jobs to speed up the delivery and drop the old job once delivery is completed, the data transmission speed is incomparable.
“Authpaper Delivery can send data much faster than any other solutions, and have the same delivery guarantee and unforgeable delivery record on blockchain” — Solon, CEO of Authpaper Limited
Do you want to know more details on the project? Read more information here: https://authpaper.io