DAVER
WHY DO WE NEED TO RETHINK PROXY?
It's hard to check whether proxy has been revoked
Verifiers do not easily trust company representatives without addtional cross-checks
You will definitely have to pay several times for the same thing
In order to make changes to the classic proxy - you will have to pay again as for a new one.
You have to come in person
Or maybe even gather all the members of the company. Needless to say, it's inconvenient.
WHY DO WE NEED TO RETHINK PROXY?
The concept of paper or notarized proxies is outdated. In the world of dynamic digital relations we need to be aware of the authority of representatives at the moment as well as to change the status almost instantly, without any significant time lags.
In fact, it is the most essential as it determines a trust gap caused by the following characteristics of current solutions: proxy itself either in form of paper document or digital one represent static facts. However, at the moment the counterparty may not be informed whether the proxy has been revoked.
The status quo is not only untrustworthy approach, but also followed with additional transaction costs.
The procedure of proxy issuance is time-consuming. The notarization procedure designed to increase the level of trust is in fact is not without a drawback described above. In case with still dominating paper proxies physical presence is also necessary. Finally, international recognition of a proxy is an issue, which gets even more complicated in countries where apostille is needed.
KEY BENEFITS OF DAVER
Easy to verify
The proxy can easily be checked online.
Easy to modify
A proxy already issued can easily be changed online.
Easy to issue
You don't have to leave home to issue a proxy.
Easy to track
All issued proxy can be easily tracked online.
Easy to cancel
The proxy you issued can be revoked online at any time, 24/7.
Easy to remake
Representatives’ identity verification is possible. The set of decisions on proxy issuance is also clear and verifiable.
HOW OUR PRODUCT FLOW ACTUALLY LOOKS LIKE
The organization aims to authorize its manager to act on behalf of it
Manger proposes proxy draft to the board of directors approving his identity and authority using verifiable credentials
Board Members vote for proxy issuance. When the voting is completed successfully, each Board Member signs the proxy document with his digital signature.
Manager seeks the approval of the proxy by Board Members via DAO-based voting application
With received proxy manager goes to verifier (e.g. counterparty to a contract)
Verifier checks manager’s verifiable credentials as well as proxy document signed with multisignature and optionally DAO’s transaction history in Etherium blockchain
WHAT WE PROPOSE
For companies
Cheaper than paper, faster than notary document
Fast, cheap and trustworthy DAO-based mechanism of corporate voting
Simple proxy revocation
For verifiers (counterparties)
Benefits of SSI-based solution (fast verification, no paper documents, etc)
Easy proxy status check
Legally enforceable proxy
THE FUTURE OF DELEGATION
DAVER
The ability to issue a power of attorney online and track it opens up new business opportunities and really simplifies administrative work. For financial institutions, it simplifies compliance and reduces risk.
Company information
Kuraga Investment AS
Client line: +372 609 3445
Sales: +372 666 1060
Email: info@kuraga.ee
Registry code: 14234888
ISIN: EE3100019720
Obtaining a cryptocurrency licence: September 2019
Legal form: Public limited company
Address: Harju maakond, Tallinn, Kesklinna linnaosa, Pronksi tn 5-5, 10124
VAT number: EE102095696
