What does Proof of Existence mean?
Proof of Existence is an online service that verifies the existence of computer files as of a specific time via timestamped transactions in the bitcoin blockchain.
It is consider to be the original blockchain notary service, offering instant, anonymous, distributed, and secure proof of existence for any document, agreement, or contract.
This allows individuals to prove that they possess certain documents or information at an exact moment in time, without the need to divulge what is in the documents.
The key advantages to this service are anonymity, privacy, and getting a decentralized proof which can’t be erased or modified by anyone (third parties or governments). The document’s existence is permanently validated by the blockchain even if the Proof of Existence website is compromised or unreachable.