The Australian startup utilizes blockchain technology to prevent data tampering and document alteration.
Chicago-based identity verification and e-signature provider, OneSpan, has announced plans to acquire Melbourne-based blockchain startup ProvenDB to securely store and vault documents. The Australian startup uses blockchain technology to prevent data tampering and document alteration, by creating digital signatures when information is added to ProvenDB and posting them to an immutable public blockchain. OneSpan plans to combine ProvenDB’s technology with its Transaction Cloud Platform to deliver a secure repository for documents and artifacts that require the highest level of compliance and assurance. The acquisition is expected to close by the end of March, and the terms were not disclosed.
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