Blockchain technology is gaining prominence in all types of technological applications, and it seems that it was only a matter of time before it found its way into a major software platform. Now, Microsoft (MSFT) has announced the development of an add-in for its ultra-popular Office suite which will utilize Stampery, a blockchain-based bit of software used to verify and certify types of documents. Stampery will aid in timestamping protocols in those Office software suites which utilize the add-in. In return, Stampery has added Microsoft Office as one of its clients, likely an effort to help the startup reach a broader customer base.
Stampery Aims for Transparency and Accountability
Like many other blockchain-based softwares and technologies, Stampery is focused on making protocols and procedures more transparent and easily attributable. In the case of Stampery's architecture, which comes in the form of a public API that users can use to integrate their individual applications and software, the focus is on timestamping. Stampery works to focus on efficient timestamping as it also seeks to create heightened security and verifiability of user identity through its cryptographic proofing procedures, according to a report by Cryptocoins News. In doing so, Stampery combines elements of Bitcoin and Ethereum anchoring procedures, which provide it with the efficient processing times and security that it has used to set itself apart in the industry.
A Tool for Office
Organizations have typically run into issues keeping records using Microsoft Office. In some cases, enterprise organizations have been forced to hire outside certification and storage providers, which is not only costly but also inconvenient, and it places the weight of privacy concerns on a third party. On the other hand, these organizations can use blockchain technology by creating hashes of documents meant to be kept secure and then adding them to a blockchain. If the document is changed, the has becomes invalidated, allowing for verification of uncorrupted materials. Stampery assists in this process by generating the necessary document hashes and storing them on blockchains for both Bitcoin and Ethereum.
There seem to be more developments in store for Office users wishing to incorporate the Stampery add-in. Analysts expect that the Stampery API will be further enhanced by the inclusion of secure has storage, doing away with the need for a separate in-memory object for verification purposes. The potential repercussions of this project for Microsoft and other major tech companies is significant, as it represents the next step in cryptocurrency and blockchain integration into the broader technological world. This has occurred previously in both financial and technological levels, helping to formally adapt existing processes and industries to the tools developed by a one-time niche area such as digital currency.