Archive for November, 2016
Use Cases of Blockchain Technology
Blockchain is a revolutionary technology that is sure to change the whole world a few years from now. It compares to what the internet was like in the early 90s. Nobody knew what the internet was going to be or what we were going to do with it. Twenty years later, the internet is just about everything. The same is said of Blockchain technology, which is still in its infancy.
- Nov 30
- 9 mins read
Understanding of Bitcoin & Blockchain
One calls Blockchain as a blockchain because you have millions or billions of blocks forming a chain of blocks connected using the signature (Digest) of the previous block. Each block is a record of one or more transactions that took place between two people or computers.
- Nov 30
- 2 mins read
What are Records in RecordsKeeper?
Documents or Records in RecordsKeeper are the digital copy of any document, record, transaction, agreement, file, page, image etc. Anything that can be converted into a PDF, JPEG, PNG, ZIP or GIF can be called document or record. In Rec In RecordsKeeper, an account can have multiple lockers and each locker can have zero or more categories associated with each locker. Again these categories can have zero or more documents associated with it as shown in the below diagram.
- Nov 15
- 2 mins read
What are streams in RecordsKeeper?
Lockers are virtually the collection of documents & categories of an entity. You can also call it a place where you will keep your documents stored for an individuals or a business. One account can have multiple lockers for multiple purposes. For example, Alice can have 3 lockers to have better arrangements of her documents or records.
- Nov 15
- 2 mins read
Data security on Recordskeeper
Documents or records stored on RecordKeeper are very safe due to Blockchain & Asymmetric Key Cryptography (aka Public-Key Cryptography). This pair (Blockchain & Asymmetric Key Cryptography) help us achieving the 4 major aspects of security with high confidence in lesser cost. While in traditional technology you have to invest a lot to achieve these below 4 aspects of security.:
- Nov 10
- < 1 min read
What is The Use Case Large Businesses for Inter-Business Setup?
Let’s say now SBI Bank has implemented our solution in-house to save time & money avoiding redundancy in KYC within the Bank. SBI will follow the same flow as Kotak has followed in case 1. In addition to that SBI might consider tying up with Kotak for KYC and reducing the cost tremendously. How can it be done? Check below steps:
- Nov 10
- < 1 min read
What is a use case for Large Businesses with Intra-Businesses setup?
Let’s say, for example, Kotak Bank has implemented our solution in-house to save time & money avoiding redundancy in KYC within the Bank. Below steps will result in saving cost & time through Intra-Bank KYC Blockchain model.Let’s say Kotak Bank has implemented our solution in-house to save time & money avoiding redundancy in KYC within the Bank. Below steps will result in saving cost & time through Intra-Bank KYC Blockchain model.
- Nov 10
- 2 mins read
How can financial institutions use RecordsKeeper Blockchain ?
Using the blockchain technology, banks can effortlessly deploy an intra-bank application within the same banking group. For example, if a savings account customer wishes to avail credit card services from the same bank, the card division can look up the ledger using the unique reference number and easily ascertain the customer’s KYC status.
- Nov 10
- 2 mins read
What is the Use Case of RecordsKeeper for Government Regulations ?
Use Case : Government Regulation Polices over RecordsKeeper Blockchain Identification documents or licenses verification is a tedious but mandatory job for all citizens. These documents can easily be faked, which has a direct impact…
- Nov 10
- < 1 min read
How RecordsKeeper is aligned with Records Management Regulations ?
Because this is a document storage in blockchain where documents are stored in electronic form & are verified by using the SHA256 digest algorithm, it is compliant with the existing regulations around KYC (By SWIFT & RBI in India). The only difference is that we are storing docs in Private Blockchain immutably & securely in a distributed manner. Rather than storing them in Traditional (MySQL/Oracle) DBs, which are mutable, has central storage as well as control hence making them less secure.
- Nov 10
- < 1 min read
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