Decentralized Trusted Timestamping using the Crypto Currency Bitcoin

TL;DR

This paper introduces a decentralized trusted timestamping service leveraging the Bitcoin blockchain to securely prove the existence of digital content at specific times while maintaining user privacy.

Contribution

It presents a novel web-based timestamping method that uses Bitcoin's blockchain for tamper-proof, anonymous timestamp storage, enabling broad practical applications.

Findings

Secure, tamper-proof timestamp storage in Bitcoin blockchain

User privacy preserved during timestamping process

Applicable for various digital content types

Abstract

Trusted timestamping is a process for proving that certain information existed at a given point in time. This paper presents a trusted timestamping concept and its implementation in form of a web-based service that uses the decentralized Bitcoin block chain to store anonymous, tamper-proof timestamps for digital content. The service allows users to hash files, such as text, photos or videos, and store the created hashes in the Bitcoin block chain. Users can then retrieve and verify the timestamps that have been committed to the block chain. The non-commercial service enables anyone, e.g., researchers, authors, journalists, students, or artists, to prove that they were in possession of certain information at a given point in time. Common use cases include proving that a contract has been signed, a photo taken, a video recorded, or a task completed prior to a certain date. All procedures maintain complete privacy of the user's data.