The value of timestamping
Why is it so useful?
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Why is it so useful?
Last updated
Was this helpful?
is a useful tool that can be used in many ways. But why is it so valuable? Well, it depends on how you're using it and what you're using it for. Let's say you take a selfie, or you have a contract from an important client. Both these things can be timestamped, but the contract probably has more value than the selfie.
At its most basic, timestamping is like putting a digital "lock" on a file at a specific moment in time. This is really useful for digital things that are shared a lot or that need to prove they're the real deal.
One great thing about timestamping, especially with the tech used by VIDT DAO, is that the timestamp itself doesn't hold any info except the proof that the content existed at a certain time. This is good for privacy and makes it possible to use timestamping for things involving sensitive data. The term used for this mechanic is Proof-of-existence.
In the end, how much a timestamp is worth depends on who's using the timestamping process and who's receiving the timestamped documents. Its importance can change depending on the situation and how it's being used.
