Immutable file sharing for regulated industries

5.2bil

Financial docs sent in UK

329g Co2e

per 60 docs sent by post

6g Co2e

Per docStribute email

"Working with Hedera, we have been able to produce a solution that has both sustainability and productivity at its heart.”

Christopher Ansara

Founder & CEO, ALT/AVE

Industry

RegTech

Overview

ALT/AVE provides communication solutions for regulated industries through immutable file sharing. Their flagship product, docStribute, is a means through which financial institutions can send regulated or mandatory documents to their customers , for example, in an environmentally conscious, compliant and secure way.

Challenge

docStribute required a scalable, cost-effective public ledger to record immutable and verifiable events. The ledger had to provide members of the public a way to access vital information about their banking and personal finances, whilst also safeguarding their private information and data.

Solution

docStribute uses Hedera Consensus Service to record and track immutable document sharing. By sending a hash of the document to the ledger, both ends of the communication know the information being shared has not been tampered with. Companies are thus able to do more digital exchanges in an effort to increase efficiency, reduce paper waste, and lower their carbon footprint.

Regulated industries are often forced to jump through hoops in order to exchange documents, at times being forced to use physical documents. In the United Kingdom alone, the finance sector sends an estimated 5.2 billion documents a year by post. ALT/AVE aims to make this legacy approach actually a thing of the past through the introduction of docStribute.


DocStribute allows for even the strictest of organizations to be able to leverage digital documents through immutable documents. For regulated institutions, docStribute required a way to garner the most trust between each participant. Part of their solution is to create an immutable hyperlink and file to strongly guarantee the information being exchanged has not been tampered with. To create immutable and verifiable information ALT/AVE considered distributed ledger technology.


The team needed a way to send data to a public ledger in a sustainable manner. DocStribute uses Hedera Consensus Service to create an immutable log of each document, ensuring that it hasn't been modified. Upon a document's creation, the document is hashed. This hash is sent as a message to a Hedera topic, put into consensus order and given a timestamp by the Hedera network. This enables all parties to have confidence in the trustworthiness of their documents; able to reprocess the hash of the document to ensure it has not been tampered with.


For businesses, the ALT/AVE team believes the ability to rely on trusted and immutable documents creates an opportunity for all industry processes to be digitized; increasing efficiency while reducing costs and their attack vectors.

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Hedera is not affiliated with, and does not sponsor or endorse this project.

Industry

RegTech

Overview

ALT/AVE provides communication solutions for regulated industries through immutable file sharing. Their flagship product, docStribute, is a means through which financial institutions can send regulated or mandatory documents to their customers , for example, in an environmentally conscious, compliant and secure way.

Challenge

docStribute required a scalable, cost-effective public ledger to record immutable and verifiable events. The ledger had to provide members of the public a way to access vital information about their banking and personal finances, whilst also safeguarding their private information and data.

Solution

docStribute uses Hedera Consensus Service to record and track immutable document sharing. By sending a hash of the document to the ledger, both ends of the communication know the information being shared has not been tampered with. Companies are thus able to do more digital exchanges in an effort to increase efficiency, reduce paper waste, and lower their carbon footprint.

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