Tierion generates a blockchain receipt for each record, which provides irrefutable proof that your data was recorded in the Bitcoin blockchain. Anyone with this receipt can verify the timestamp and contents of the record. For instance, an insurance company could use Tierion to collect claims data and issue a blockchain receipt. This gives both parties a verifiable record of the time and content of the initial claim — reducing errors, fraud, and the cost of auditing claims.
We’ve pioneered an open standard for recording data in the Bitcoin blockchain and generating blockchain receipts called Chainpoint.