Coming full circle, I hope you can understand how NEM’s Apostille can be utilized to provide irrefutable proof of any asset’s existence. Combine this with unique namespaces, multi-signature authorizations, updateable and transferable options, and you can begin to see just how useful and potentially revolutionary Apostille can be. Keep in mind that Apostille is still in development and will continue to deliver more customizations and features over time. The system is highly adaptable and additional functions can be added through modules from third-party developers as well. To conclude this tutorial, here is a little list of possible use cases for the Apostille service. There is already at least one major company who’s currently utilizing this service, LuxTag.
Archiving sensitive data or documents which require immutability and should not be tampered with.
Proof-of-ownership for an original document.
You could notarize a certificate of ownership for your assets such as vehicle repairs, maintenance, accidents, permits, and ect., sent as a message to the account, where it could represent the current state of your asset with sequential updates. If you sell your asset, you can transfer ownership of notarization account to the new owner of the asset.
Regarding digital media licenses, namespace and digital assets can originate from the notarization account for the license and these assets can be sent to others representing rights in the license.
Companies with luxury goods can make a namespace account that only they can control. They can publish this name on their business profile. They can then make a blockchain notarization for each and every item using things like serial numbers, high definition scans, chemical makeup, and so on, to identify and register each item uniquely. Since each item is unique, and each is fingerprinted, and each blockchain notarization comes from a registered and recognized source, any competitor offering counterfeit products without an accompanying blockchain notarization will be easily identified.
Making on-chain notarizations of contracts signed by multiple parties which can then later be updated or transferred if desired.
And finally for a more in-depth technical description, please take a look at the Apostille Whitepaper.