Periodic Reporting for period 1 - Loca Credibilia (Data and document integrity for services provided through critical information infrastructures)
Periodo di rendicontazione: 2015-05-01 al 2015-10-31
Loca Credibilia could be defined as “place of authentication”, which is similar to some extent to the services of notaries in European countries. An institution in medieval Central Europe has been called like that, where the documents of individuals or communities were not only scribed on paper but the documents themselves were also preserved. In addition the Loca Credibilia have attested the authenticity of the documents with their seal.
Today we preserve our important documents in the safe of banks, and we use the services of notaries for attestation. However in the world of digital documents, we don’t have the perfect solution. There are too many documents, too many copies of them, and the authenticity of these are more questionable than ever. Our solution wants to be similar to its medieval predecessor, keeping in mind of course the challenges of the 21th century. The system ensures the authenticity of the documents of the clients, it preserves them, and also authenticates that who, when, for what reason wants access to them, and stores every modifications built-in the certification chain in order to track genuine source. It also facilitates producing an authentic paper based copy of an authentic digital document.
Loca Credibilia will promote increased security and public trust in the critical financial services infrastructure, assuring document integrity and accountability. Loca Credibilia will further limit trust destroying instances of forgery, fraud and corruption. The system is proved to be an important tool to identify objects and the changes of their relations, status in the course of a legally controlled life cycle. The information management system based on ADNS coding and processes provides information for all participants of the document lifecycle by enabling access to the last valid version.
In Phase 1, our objective was to prepare a clear Feasibility Study and Business Plan on how to reach and exploit this technology properly in different scenarios, which might imply different business models, and different market strategies. The end of Phase 1 represents a milestone, a go-no go point. In Phase 2, our specific objective is to implement the actual work necessary to reach our goal as outlined in the Phase 1 Feasibility Study.
Today we preserve our important documents in the safe of banks, and we use the services of notaries for attestation. However in the world of digital documents, we don’t have the perfect solution. There are too many documents, too many copies of them, and the authenticity of these are more questionable than ever. Our solution wants to be similar to its medieval predecessor, keeping in mind of course the challenges of the 21th century. The system ensures the authenticity of the documents of the clients, it preserves them, and also authenticates that who, when, for what reason wants access to them, and stores every modifications built-in the certification chain in order to track genuine source. It also facilitates producing an authentic paper based copy of an authentic digital document.
Loca Credibilia will promote increased security and public trust in the critical financial services infrastructure, assuring document integrity and accountability. Loca Credibilia will further limit trust destroying instances of forgery, fraud and corruption. The system is proved to be an important tool to identify objects and the changes of their relations, status in the course of a legally controlled life cycle. The information management system based on ADNS coding and processes provides information for all participants of the document lifecycle by enabling access to the last valid version.
In Phase 1, our objective was to prepare a clear Feasibility Study and Business Plan on how to reach and exploit this technology properly in different scenarios, which might imply different business models, and different market strategies. The end of Phase 1 represents a milestone, a go-no go point. In Phase 2, our specific objective is to implement the actual work necessary to reach our goal as outlined in the Phase 1 Feasibility Study.
The objectives of the feasibility study were achieved through 5 designated tasks as per the work description. The analyses used available information on legal frameworks, current and forecasted data on market and financial environments, technical and commercial specification of existing and pipeline products and data collected through stakeholder interviews.
In Task 1.1 extensive assessment of requirements of pilot installations has been carried out and the SaaS architecture to be developed during a Phase 2 project was determined. In Task 1.2 an in depth study of legal framework of Loca Credibilia has been carried out at a European level and a strategy to assure compliance with the eIDAS Regulation has been drafted. In Task 1.3 we have researched the financial industry and discussed our approach with potential customers within the sector from the point of view of key market applications, and have selected two entry segments within the Financial Sector. In Task 1.4 we have reassessed the IPR implications of Loca Credibilia and have updated the on-going processes of patent, trademark, and freedom to operate analysis with a special emphasis on the European and global dimensions. In Task 1.5 we have updated our business plan incorporating the results of previous tasks; and we have also drafted the work plan for our Phase 2 project.
In Task 1.1 extensive assessment of requirements of pilot installations has been carried out and the SaaS architecture to be developed during a Phase 2 project was determined. In Task 1.2 an in depth study of legal framework of Loca Credibilia has been carried out at a European level and a strategy to assure compliance with the eIDAS Regulation has been drafted. In Task 1.3 we have researched the financial industry and discussed our approach with potential customers within the sector from the point of view of key market applications, and have selected two entry segments within the Financial Sector. In Task 1.4 we have reassessed the IPR implications of Loca Credibilia and have updated the on-going processes of patent, trademark, and freedom to operate analysis with a special emphasis on the European and global dimensions. In Task 1.5 we have updated our business plan incorporating the results of previous tasks; and we have also drafted the work plan for our Phase 2 project.
The Financial Sector is an eminent critical infrastructure that is essential to the functioning of the economy. When we think about the extent of cyber interaction we have with this critical infrastructure sector, from online banking to automated bill pay, payroll deposits to government benefit registration, online tax filing to e-commerce shops, the extent of cyber interaction using public networks including the Internet is extremely extensive. Recent trends of increasing reliance on information infrastructures within the sector posit new vulnerabilities. Loca Credibilia aims to mitigate these vulnerabilities by assuring document integrity and accountability of electronic transactions. The introduction of our system will promote the transition to digital channels in the sector, contributing to its overall efficiency. Loca Credibilia will be a European solution compliant with the eIDAS Regulation and will increase the competitiveness of the European financial sector.