Why blockchain works for records management by GCN

by Cecil (CJ) John – August 21, 2019

Records management is one of four blockchain business initiatives that can save money and provide generate revenue, according to Gartner. The technology has the potential to impact all records management processes and extend their capabilities. It also has broad implications for securing and authenticating intellectual property at a lower cost and higher efficiency.

This article is not a primer on the blockchain; however, I will outline some of the specific challenges with records management for government and how the distributed ledger technology can provide a solution.

Protecting government records is a massive and complex undertaking. The number of data breaches has increased more than 400% in 2018, exposing almost 15 billion records, according to the identity intelligence company 4iQ, and the average cost of a security breach is $17 million. In 2015, when the Office of Personnel Management discovered its databases had been breached, officials revealed that hackers obtained personally identifiable information — including Social Security numbers, fingerprints, employment history and financial data — for about 22 million individuals. Read the rest here.

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