Blockchain technology is a decentralized, distributed ledger that stores the digital assets’ ownership record. Nobody can modify the data you hold on the blockchain, which makes the technology a genuine disruptor for industries such as finance, cybersecurity, education, healthcare and more. Once you have a blockchain encrypted document or files in your organization, institution or business, you can vouch for its protection as blockchain makes it immutable.
The blockchain is more than a game-changing technology for anybody who selects to use and master it. Here are some points that will show why blockchain secure documents are probably the best way for you:
Blockchain is better than any other document or record-keeping system when considering security. The updating or modifying shared documentation of transactions is possible only with consensus on a blockchain network. The information gets appended if everybody or a majority of nodes on the network agree to update a record. Moreover, once any transaction is approved, there is encryption and connection with the previous transaction. Hence, no one individual or party can alter a record or document.
Blockchain is distributed, so nobody reserves the right to update records by their autonomy. Any sector with a crucial need to protect sensitive data like healthcare, governments, financial services and more should use blockchain to apply stringent security. After all, being in the business or any confidential sector, you cannot afford to experience any leakage in your documents, records or transactions.
Transparency is one of the vast issues in the current industry. Businesses have tried to implement numerous rules and regulations to improve transparency. But there is one factor that does not make any system one hundred per cent transparent, which is centralization.
With blockchain technology, an organization can quickly go for a complete decentralized network where there is no requirement for a centralized authority, enhancing the system’s transparency. A blockchain includes peers who are accountable for performing transactions and confirming them. Not every peer participates in the consensus method, but they are free to decide if they wish to participate in the authentication process. For ensuring validation through decentralization, there is a consensus method. After confirmation, each node reserves a copy of the transaction record. This way, the blockchain network ensures transparency.
Remember, transparency has bigger implications when talking about organizations. Governments can also utilize transparency in forming government processes or voting. Anyone can quickly validate a document by scanning blockchain encrypted QR code on the document, data or files. The QR code carries a unique hash value, and it should match the hash value of the QR code on the blockchain network to reveal the information. Hence, there remains utmost transparency and validation at every stage with blockchain.
Easy & Safe Sharing
Blockchain technology eradicates the risk of unauthorized access and data corruption because of duplications or usage of diverse versions. Securing document with qr code can be helpful for you here. Once you use blockchain-based QR codes, sharing documents is easy and safe. One can easily access the shared document by scanning the QR code and, simultaneously, be confident about its authenticity.
The Bottom Line
Since you just have tasted some points of why implementing blockchain technology for Document security in your organization is excellent, give blockchain a try. Learn more about how blockchain technology can tamperproof your documents with ProofEasy professionals.