The oneNDA project is a crowd-sourced, open-source standard NDA that companies can adopt as their own. OneNDA is the most expensive legal document that has probably ever been created. It is an attempt to standardize the NDA and make one document universal. What the demonstration we have prepared by using oneNDA is to use the same format and document but to simply add the additional functionality of keeping the structured metadata contained within the document and also adding the hash of the finalized document to the blockchain so it can be verified as authentic by the parties involved.
Once this process is complete, the validity of the NDA can be confirmed at any time, by any organization or individual in possession of the executed NDA. Further, the combination of embedded metadata and blockchain authentication enables automated processing and management of the NDA by virtually any contract management software that has been upgraded to utilize blockchain document authentication.
The first step in creating the document an Integra Blockchain-authenticated oneNDA document is to obtain the actual NDA document from oneNDA.org. Once the document has been downloaded, the next step will be navigating to the site, which can be found below in the Live URL section.
Next, drag and drop the oneNDA PDF document onto the site. If it has been done correctly, on the left-hand side will show the oneNDA document and on the right-hand side will show the form data that will filled out to complete the NDA. See figure 1 for what the screen will look like after the document has been dragged onto the site.
Once all the fields have been completed on the right-hand side, click on the "Tokenize oneNDA" button on the top right to start the process to generate your blockchain-authenticated oneNDA contract. Figure 2 show the confirmation window to verify the data is accurate before completing the final version.
The completed file will be downloaded to the browser. Once the file has been downloaded, it can be opened, and note that in the visible document the fields are filled out with the values that were entered into the form on the site. Figure 3 shows how this data is displayed in the PDF. Also, the input data is also contained in the metadata, to see how to view the metadata visit Simple Smart Document Creation.
Downloaded File Name
Note that the file that is downloaded has the following naming structure:
oneNDA+v1+<Party 1 Entity>+<Party 2 Entity>+SmartDoc.pdf
The brackets are the values entered into the form.
One of the most important takeaways from the oneNDA is the importance of standardized data and datasets. Collaboration of information between parties works best when both parties know what data to expect from the other party. When standardized data does not exist, the first step in creating efficiencies between two parties is determining what data is important and relevant for the documents that will be transmitted between these parties. This information will become the metadata for the documents and will be presented using the same names/conventions for these documents going forward between the two parties.
Updated over 1 year ago