Imagine that you need to make a planned publication of important information to the public e.g. a partnership agreement for your company, but you don’t know yet when you want to publish this. You need a way that guarantees the safety of the information but the inability to modify your original record, whilst keeping a non-fixed publication date.
A trusted source with the ability to record data is required, but you want to control the publication date at any time you want, in case you choose to change the publication date. The solution is the Planned Note Decryption service.
How does it work?
Imagine that Bob wants to share some important information on a certain date. Lets say on March 23rd. However, an important condition for Bob is that Alice (his senior manager) must confirm to release the information, by fulfilling a certain condition, e.g., she makes a phone call to confirm, exactly 5 minutes before the release of data on the 23rd of March.
First Bob creates a record of the information he wants to share using Shared Secret. The message appears in an encrypted form on the RNG Coin block chain. The data is publicly available, but only in an encrypted form, and only Bob owns the key that decrypts the record.
Bob has also created an event in the Planned Note Decryption service that on March 23rd the keys become should be published in the RNG Gaming block explorer, thus the record becomes decrypted and available for general viewing.
Now, we have two options for what happens next:
1) Alice makes a phone call to Bob 5 minutes before the beginning of March 23rd. Bob hasn’t changed the publication date in the Planned Note Decryption service, and so the record becomes decrypted and accessible for viewing.
2) Alice doesn’t make a phone call. Bob then either changes the publication date of the record or simply has disables the publication of the keys, leaving the record still encrypted.
In this example, we see that Bob, when opening the record, makes it available to everyone. However Bob can exchange the public keys for encryption with Alice before publishing the record. In other words, Bob can create a record by encrypting it using Alice’s public key, therefore only the owner of the public key, Alice, can see the encrypted data once it is published.