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. The network means that both ends of the communication know the information being shared is safe. Users are reducing paper waste, a significant issue in financial and professional services, and lowering their carbon footprint, by using Hedera’s product.

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 the 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 creation, each document is hashed, messages are put into consensus order and given a timestamp by the Hedera network. With cryptographic proof, all parties can have confidence in the trustworthiness of their documents.


For businesses, the ability to rely on trusted and immutable documents creates an opportunity to act more efficiently while reducing costs and their attack vectors. Businesses can use docStribute through API integration or as a standalone product.

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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. The network means that both ends of the communication know the information being shared is safe. Users are reducing paper waste, a significant issue in financial and professional services, and lowering their carbon footprint, by using Hedera’s product.

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