An informal talk about Mytitle services and new bundle packages
Jan, thank you for taking a moment with us. When you became part of our leadership team, who did you imagine would be best served by Mytitle?
Jan: We felt that we were creating a valuable tool for many people. Artists, professionals, and creatives in general desperately needed this tool. Often creatives and professionals generate work that desperately needs a timestamp to validate the creation of original work; be it mock-ups, drafts, a contract, etc. Take, for example, a graphic designer is hired by a firm to design a logo. The next step is a designer shares multiple versions of a proposed logo. Legally, they are the creator automatically but demonstrating that in court can at times be difficult to prove. With Mytitle, the designer can secure, timestamp, and prove their original work. With our certificate, the creator will have tangible proof of their work, when it was created, and when the file’s data was uploaded to a blockchain.
I see. The same can be applied to a writer; be it a copywriter or a screenwriter who has numerous drafts. They can upload their drafts and validate their work.
Jan: Yes but we upload the metadata and not the file itself.
Only the integral information relating to the document is encrypted and posted to a blockchain?.
Jan: In a way, yes.
Imagine, I am a new user of Mytitle. Can you walk me through our process?
Jan: Once a person logs in they select the file they want to secure. Currently, they can upload a file up to 20 MB. It can be a photo, a contract, or any type of file. Next, they would need to select a plan. There is a free and a paid version. The free version has a three-month backup, allows up to 10 MB for a file, and the blockchain used is Testnet.
For those unfamiliar with it, what is the Testnet blockchain?
Jan: It is a blockchain used by developers for testing Bitcoin apps. The paid version uses Ethereum, which is larger, complex, and is trusted by an entire cryptocurrency economy. A file can be up to 20MB, the encrypted file backup is ten years, and there are added fields for an owner to prove their ownership.
Why is that an extra feature?
Jan: At the final step, we issue a certificate of ownership. The more personal information that matches your file in the blockchain with your identification helps to prove you are the owner. It is why the clients can choose how much information they wish to share. This information is encrypted and is not shared with anyone.
Once they select a package, they upload the file. Their metadata which identifies what makes the file unique is encrypted along with the owner’s information; e.g. name and email. We, then post that encrypted information to a blockchain. The client then gets a certificate, which has a timestamp of when the file was uploaded. We also include the hash which is like a digital fingerprint, an explanation on how the stamp was created, and lastly a verification link. All of this takes less than thirty seconds.
Can you briefly explain the intent of our bundles and credits?
Jan: An individual file is equal to one credit. To make uploads faster, we think for clients making use of our service as a bundle of credits saves time and more importantly saves them money.
As I understand it, there will be a “White Paper” coming out soon?
Jan: Yes, for the community I plan to release one soon and share a few details in greater depth of how our services work on the technical side.
The interview was executed by Jeffrey B. Ditmars-Monteforte. 2019
