What is StonePaper?
StonePaper is a software solution to implement digital contracts or “Smart Contracts” in the blockchain. This allows businesses and individuals to safely share/transfer/verify property and finance projects while having the flexibility to trade, sell, and sublicense their ownership to other individuals.
StonePaper allows for an individual to register a smart contract, a combination of a traditional legal contract, which is drafted by a lawyer, and a small piece of encoded software that manages the contract. The logic of the software mirrors the terminology that is laid out in the contract allowing both to work in concert.
What problems does StonePaper Solve?
StonePaper's innovation tackles two of the most common complaints of current blockchain solutions: anonymity and the lack of regulatory oversight.
StonePaper has integrated user identity, allowing for a system to require each user to provide verified identification in order to access it. To improve regulatory compliance, StonePaper has a built-in "Auditor" class, where the auditor can oversee all transactions/data without the ability to change any record on the network.
Is a Contract Signed on the Blockchain Legal?
A contract signed on the Blockchain holds the same legality as a written contract signed on paper, and is far more enforceable. Not only is there a record of the contract stored on thousands of computers on the network but the record is digitally signed and dated with the persons own cryptographic signature.
Is the Contents of the Contract Public?
No. Users can specify their contracts to be listed as public or private. Copyright and Trademark information can be stored publically but for more secure information, the information can be encrypted and stored on the blockchain. The contents of the contract can even be stored offline with a secure hash of the document stored on the Blockchain, making it impossible for a hacker to access any sensitive data.
Which Blockchains does StonePaper Support?
StonePaper is accessible via a private Etherium Network and the Hyperledger Fabric network.
Does StonePaper Support Cryptocurrency?
StonePaper supports any form of currency supported by your local government, includig Bitcoin and physical currencies. There is no specific CryptoCurrency supported on StonePaper's network.