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active, expires in 64,022 blocks (~366 days)

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This paper explores benefits of a new method of cryptographic signing of legal transactions using the Name-Value Storage (NVS) technology of Emercoin. NVS not only permanently stores data, but also allows to change ownership by transferring data between blockchain addresses, establishing its validity and even changing data, while keeping a history of records with timestamps. A signatory creates an NVS record with the hash of a document and transfers it within the circle of signatories until everyone has signed it. The method also works for unilateral deeds, which can be transferable (for bearer instruments) or non-transferable, including a method where the signatory keeps the record under one's control. The third party can also be involved in the role of a notary, an arbitrator or an escrow, who can ident ify signatories, change the status of the deed and manage the NVS record. The article analyzes a probative value of the proposed methods for legal proceedings and compares these with the traditional PKI, such as eIDAS in EU. The conclusion is that the Carousel method can be considered as an alternative to existing methods, but mass adoption requires standardization and a normative background.

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