Preserving Data Integrity in Legal Documents Using On-Chain NFTs

Abstract

Data integrity and tamper-proofing are of paramount importance in legal documents. To mitigate these issues of data tampering and data corruption in a centralized system, blockchain technology and Non-fungible tokens can be used. Blockchain is used to establish a trust-less system, eliminating the need for a facilitator or a centralized body to validate the correctness of data. Non Fungible Tokens can be used for their properties of immutability. The limitations of traditional NFTs such as data security and data corruption in a centralized and decentralized storage services are also discussed and a new method for data storage is proposed, i.e. On-Chain NFTs and their possible advantages and disadvantages, and how they provide an additional layer of security, making it more reliable than our current Off-Chain Non Fungible Token standards. Three novel approaches have been proposed, along with their respective pros and cons.