The Dubai International Financial Centre (DIFC) Courts has launched a digital vault ‘tejouri’ which enables the secure storage of documents ranging from insurance contracts, tile deeds, Wills, and financial certificates.
All uploaded files will be secured under security regulation, using multiple factors of authentication, encrypted data, personalised biometric information and safe-keeping ledgers through advanced cryptography.
Speaking to ITP.net, Ayesha Bin Kalban, the acting registrar for DIFC Courts, said that the digital vault allows users to upload and safe keep their digital assets.
“Users can upload files – documents and multimedia files – to a zero-knowledge proof platform, which allows those documents to be retained for 25 years, which is renewable, if required.
“At the time of the user’s passing those encrypted data will be passed on to nominated recipients as soon as a death certificate is issued by the Ministry.”
She also noted that the files are protected under two layers of authentification.
The global repository was launched with the support of the HBAR Foundation, specialists in building Distributed Ledger Technology ecosystems, with Hedera technology being used by the DIFC Courts to construct a bespoke DLT architecture and establish access to a decentralised trust application.
Deca4 Advisory also supported the DIFC Courts with road mapping the tejouri service experience development.
Meanwhile, Shayne Higdon, CEO, HBAR Foundation, said: “Hedera makes it cost-effective and practical to bring the security and accountability of a public ledger to the age-old challenge of document safekeeping, verification and sharing. The Dubai International Financial Centre (DIFC) Courts is demonstrating industry leadership in cost-effectively delivering next-generation digital services, saving people time, money, and headaches through this new digital vault, built on Hedera.”
Mohammed Mahfoudh, CEO, Deca4 Advisory, said: “We are privileged to have this opportunity to work on a project that enables the bridging of public and privates sector innovation. Our unique insight into service experience development ensures tejouri offers a new technological value proposition to the public.”
His Excellency Justice Omar Al Mheiri, Director, DIFC Courts, said: “In our new digitally driven societies, we are all accumulating mass amounts of important documentation, whether it is for professional, or personal purposes. tejouri has been engineered to help address issues of storage and security of these documents and to enable individuals to now transfer this data to one secure location.”
“The DIFC Courts, together with its public and private sector partners, is proud to be able to offer this distinctive service to the public, and to help contribute to a safer digital environment for all,” he concluded.
