A Brisbane entrepreneur has developed an internationally patented solution which allows you to safely store, edit, share and legally sign confidential documents in the Cloud.
It even allows you to store bitcoin.
Brisbane accountant, Jamie Wilson, came up with the idea for a single secure online solution after the sudden death of his father.
Wilson had to bring together his father’s important documents quickly.
But this proved extremely difficult and prompted Jamie to seek the world’s top security experts to create a single source of confidential documents in an secure online location.
Wilson said the feedback from the testing phase and from talking to corporate markets had been overwhelming.
“Your Digital File’s wall of security provides new options for industries such as banking, insurance, telecommunications and financial planning – virtually any industry that needs to store documents securely, confidentially and with complete audit trails,” he said.
“Your Digital File also provides a new, unmatched storage option for Bitcoins and assists the likes of telcos in dealing with the changes to privacy laws announced earlier this month.”
“The algorithms used comply with the Australian Government’s Signals Directorate standards for cryptographic algorithms and protocols and the legal requirements for valid electronic signatures.
Your Digital File allows you to securely store, edit, share and legally sign confidential documents online such as contracts, wills, trust deeds, share portfolios, property, equipment and vehicle leases, insurance policies, tax returns, power of attorney documents, wills, funeral plans and family photos, passwords and letters.
It provides a layer of protection called Cryptoloc, and access requires more than just a password.
Everything clients save in is automatically scrambled, so the files can’t be opened and read without a password-protected digital private key that is generated and saved to the client’s computer when they sign up to Your Digital File.
The private key, to be kept safe by clients, unlocks and decrypts the scrambled files.
Clients access their files from the device on which they joined Your Digital File.
The service is also portable – clients can download their private key on to a USB stick.
It achieves confidentiality and non-repudiation requirements without compromising availability – most schemes favour one aspect of security at the expense of another.
Documents such as wills can be released to nominated people on defined events.
Importantly the system has a mechanism that allows files to be recovered if the private security key is lost.
Wilson said it addressed a void in the online world. “Our Cryptoloc technology uses strong and proven public key cryptography algorithms to protect the confidentiality and authenticity of documents,” he said.
“We’ve worked for more than three years to design this technology and it’s all Australian work. Our data servers are also housed in Australia.”