Press Release: RecordsKeeper – An Open Public Ecosystem for Record Keeping & Data Security

Last few years turned the spotlight onto the Blockchain Technology, and the rest, as they say, is history in the making. Right from basics, everyday financial decisions to unprecedented social and economic impact, we believe that Blockchain has what it takes to change how the world functions.

However, experts believe that the full potential of the incredible Blockchain Technology isn’t yet explored. With every passing day, new use-cases are emerging for Blockchain Technology. Every industry is solving old-age problems or making the entire system more efficient with the help of the Blockchain. But the surface has barely been scratched when it comes to the massive impact.

With the same belief, we are happy to announce, RecordsKeeper – an Open Public Ecosystem (with Mine-able Blockchain) for Record Keeping & Data Security.

Founded by Toshendra Sharma & Rohendra Singh in the November of 2016, RecordsKeeper platform is built to store, share, and manage data-objects safely in the form of a key-value pair with each Blockchain transaction. The ecosystem is fueled by “XRK” tokens which are used to pay the transaction fees based of record size for every record published and is being collected by the miners as a reward for their efforts to conform the transaction over Blockchain using proof-of-work consensus.

The RecordsKeeper’s Private Blockchain can also be set up in any local infrastructure or cloud. Alternatively, users can directly use RecordsKeeper’s Public Blockchain which is maintained by hundreds of miners already and more are joining this mining pool every day. RecordsKeeper consists of passionate developers, marketers, and Blockchain-specialists who believe in what the platform offer to the world at large.

RecordsKeeper Blockchain solution for record keeping and data security

Since the platform is based on the Blockchain Technology, which also powers Bitcoin & Other Cryptocurrencies, the data stored on it cannot be deleted, tampered, or edited in any form by anyone including the owner of the Data. This decentralized outlook on how data stored is what makes RecordsKeeper a powerful platform.

Records published on RecordsKeeper are:

  • Immutable in nature
  • Verifiable without any trusted third party
  • Private, if encrypted before publishing
  • Authentic, cannot be created for old dates
  • Non-repudiable, once published cannot be denied

Several use-cases for the RecordsKeeper emerges due to fundamental nature of query-able key-value pair based storage system. Some of them are:

Check out the RecordsKeeper Tools & Resources at below links:

RecordsKeeper’s public ledger also offers unlimited storage of data along with encrypted storage. By sending a transaction, this data can be shared with the interested parties. Due to the immutability of this public database, it can be used by millions of users to share and store records in verifiable formats.

As of today, a new block of data is being created every 15 seconds which can be maximum of 8MB with permission Proof-of-Work Consensus. And, for the RecordsKeeper’s team, this is just a beginning.

In case of any query, please reach out to us at [email protected].

RecordsKeeper streams vs RecordsKeeper assets

RecordsKeeper technology is a platform that allows the users to form a private blockchain. The entity then uses it to carry out transactions of varied nature. 

Its highly customizable nature highlights its advantages. It allows users to configure the max block size, the number of transactions, and even the type of transaction.

While setting up, roles and permissions to each user are assigned. But those can be reassigned and modified with time. Also, a vital feature of a multichain is that it can create multiple assets and not just one. As an instance, the blockchain active on the Bitcoin network can support only one coin — BTC.

What is a RecordsKeeper Asset?

RecordsKeeper allows establishment and support of assets at a native level. Each transaction type encodes classification of an ‘asset’ along with its quantity. Another feature of a recordskeeper is that it’s not necessary to have a native currency. The recordskeeper maintains and highlights the input-output ratio of an asset. Also, each transaction can contain any number of assets, as there’s no upper-limit to it.

Difference between Assets and Cryptocurrency

Cryptocurrency, as per definition, is a native currency of a particular blockchain which is open and publicly accessible. It also classifies itself as a new form of ‘money’ and thus can be sent, received, transacted, earned by anyone across the world. Bitcoin and Ether are examples of native currencies.

An asset, however, is a type of ‘token’ issued and is a representation of something that doesn’t derive its value straight from the chain. As an instance, a financial institution that issues an asset into a blockchain to indicate that it holds a certain value of ‘cash.’

What is a RrecordsKeeper Stream?

Unlike RecordsKeeper assets, the focus of Multichain Stream is to provide a reliable mechanism for general data storage as well as its retrieval. There’s no transfer of assets or change of ownership that takes place in this type of set-up. Every item that is a part of a ‘stream’ has fixed characters including publishers, an optional key for retrieval, a timestamp, and data. In fact, the data can be anything right from a small paragraph of text to quite some megabytes.

Think of legal firms — filled with lawyers, court cases, partners, third-parties. They’ll find use case with the multichain stream as they can record the case and other details. Multiple parties can then access this information without fearing data immutability or damage. 

Conclusion:

As for what is the best choice between recordskeeper assets and recordskeeper streams, there’s no single answer. The decision lies with the organization based on the results they are trying to achieve. It would depend on the context along with the long-term objectives of the organization that is building it. In general, however, if you’re looking to create a scarce ‘asset’ that can be owned or transferred, you should use multichain assets. However, if you’re looking for general data storage and retrieval without any change of ownership, then you can use multichain streams. RecordsKeeper technology has been a game-changer, and it’s here to stay.

Breaking Blockchain Conjecture

Our political, economic, as well as legal environment structures itself in the form of contracts, transactions, and its record. It is a system as old as time with evidence of world’s first civilizations too creating a system to keep track. Along with verifying identities and making a note of the exchange, these records serve as history also in many ways.

However, these systems that held on for centuries are shaking in the face of digital transformation. The processes have just not been able to keep up with the pace with which the world is evolving. In this digital era, like most things, the way we maintain these tools along with its execution also needs to change.

Where does Blockchain come into the picture?

Experts believe that blockchain is the solution. Blockchain, as a technology, resides at the crux of Bitcoin along with what’ve now become other virtual cryptocurrencies. In layman’s words, blockchain is a distributed ledger. Being open, it records peer-to-peer transactions without including third-party intermediaries. It promises data immutability along with its permanency. Verifiable data and records form the network. In fact, as the technology evolves, there are concepts such as ‘Smart Contracts’ that can even trigger transactions automatically.

What’s all the Hype About?

More than anything else, blockchain shows a glimpse of the world could be. A system wherein transactions are recorded, stored, and verified on a digital network. Every record has a timestamp along with a signature, and no data can be tempered with, recreated, or in any way corrupted. A self-sustaining system to the point where intermediaries like lawyers, brokers, and bankers will not be needed anymore. Different parties will transact directly with another with little or no friction whatsoever. That is the vision that blockchain promises.

Will Blockchain Live up to the Expectations?

By now, every business has heard that Blockchain will revolutionize everything in the coming few years. Moreover, while we share the vision of this technology, we think we might overstretching our expectations from Blockchain. Not only blockchain as a technology is in its nascent stage, but there are also security issues that seriously need to be pondered upon. However, the critical thing is that blockchain is a foundational technology. By foundational technology, we mean that several other structures (political, legal, financial) can be evolved and created with it. However, that just might take decades.

So, what should we expect from Blockchain?

There’s little doubt about the potential that this technology holds. In fact, in some industries like finance and healthcare, we already see its impact. The future result will be even more enormous; however, it will not happen next year or even in five years. It will take its own time to slowly but steadily seep into all our structures for good and to change it from within. So while we continue to marvel at the potential, we should also continue to innovate and explore it at this stage.

Conclusion:

The blockchain is here to stay. However, the world needs to start small to correctly understand and structure how and in what ways do we want to evolve Blockchain. The level of development of it will also depend on how effectively it adapts to the ever-changing need of multiple industries. For now, we know that blockchain is going to affect both your business and your world. As for when – the time will have to tell.

Password Strategies for your Crypto Wallet

The digital nature of the cryptocurrencies and crypto wallets is such that it can leave you open to security risks and vulnerabilities if you’re not cautious enough.

On Internet forums, you’ll find stories by people who’ve lost their money because they didn’t adequately secure their cryptocurrency wallet.

The first thing, of course, that everyone does right after creating a crypto-wallet is to set-up a password. Setting a password that is strong is the first layer of protection that you provide to your cryptocurrency wallet. So, set a password which can’t be exploited.

Password choice is a security measure that is 100% in the control of the user. An excellent approach to password-creation is making it close to impossible to guess. A user can use a healthy combination of letters, numerals, and symbols to create a secure, unguessable, password. Another critical point to remember is to avoid using anything personal (like name, birthdate, current identification markers) in a password to protect it from any form of social hacking.

Another way and one that has become popular in the recent times, to secure cryptocurrencies is through 2-Factor Authentication (2FA). If you haven’t yet activated 2FA on your crypto wallet, then you are at a security risk.

What is 2-Factor Authentication?

Along with the login details, 2FA is an added layer of security authenticated via an independent source. When 2FA is activated, it’ll require a code for accessing the wallet in addition to the username and the password.

People often end up not setting strong passwords. And if that’s the only security measure in place, then it creates a security loophole. Not to forget, the password can also be stolen via multiple methods including but not limited to phishing attacks, keylogging, and network sniffing. With 2FA activated, you create an independent mode of authentication. The combination of secure password along with 2FA is a robust strategy to amplify your crypto wallet security.

What Authenticator to use?

The traditional usage is, of course, through getting an SMS on your number. This method is frowned upon by experts because it’s risky and vulnerable regarding security. The ideal approach is to set-up 2FA through an independent, third-party authenticator, such as Google Authenticator.

Some people even prefer email 2FA, because they’re concern about losing their phone.

Types of 2FA Set-up

A lot of crypto wallets platform will ask to choose the type of OTP you want while setting up your 2FA. Technically speaking, there are two forms of set-ups. The first one is called HMAC-based One Time Password (HOTP), and the second one is called Time-based One-Time Password (TOTP). The key difference is that HOTP is valid for an unknown period while TOTP changes in every 30 seconds.

As you can tell, the TOTP approach is safer than HOTP since it doesn’t give the space for the OTP to be copied or stolen in any way. The appropriate change in TOTP ensures security.

TOTP occurs through an authenticator app (such as Google Authenticator). The way this app work is that it synchronizes your smartphone with their app server; thus, providing for that extra layer of secureness in the form of a variable OTP in a 2FA set-up.

What if I lost my phone?

Since the entire idea was to strengthen the security of your crypto wallet, you won’t be able to log into your account. However, there are always a set of private keys, which you should keep as a secure backup. Otherwise, the process of acquiring your account back can be a time-consuming and be taxing.

If you’re using Google Authenticator, you can quickly restore that account by scanning the saved QR code into your new device.

Conclusion:

The holistic approach to password strategy for cryptocurrency involves setting a secure password as a first measure. However, to adequately secure the wallet, one must enable 2-Factor Authentication with a trusted authenticator such as the one that Google provides.

Challenges Faced By Current Record Management

Records Management is an incredibly complex job which is made even more complicated due to the enormous quantities of data that is being generated in the world currently. Record Management involves not only safely storing the sensitive data, but also to making it accessible and making sure that ample copies of it exist if the data is lost. The implications of an incompetent record management system are extraordinary, not only for the organization that suffers from a hack but also for the people whose personal information is compromised. Let’s take a look at some of the challenges faced by record management systems and how blockchains can help.

 

Ensuring Accessibility to Records

Accessibility is perhaps the most critical use case for a records management software as data is no good if no one can access it. To make records accessible, corporations need to digitize records and add metadata to it so that data can be easily searched. Once the database is created, record management also involves managing the rights of access to ensure that no unauthorized access takes place. This involves setting up their servers and employing user access software.

 

Ensuring Immutability and Data Integrity

Data Integrity is a huge aspect of efficient record keeping in this day and age as user data is a very valuable commodity. Large corporations want to acquire this valuable information so that they could use machine learning to identify the underlying patterns in the data to gain a competitive edge. This is also one of the most controversial aspects of records management because it is very hard to make sure that the stored data is secure. The recent Equifax hack is the most prominent slap in the face of records management as hackers were able to steal compassionate information like people’s social security numbers and house addresses.

 

Making Records Easily Auditable

It is essential when dealing with sensitive information that records management provides a way to verify that the data has not been modified or corrupted in any way. That would allow third parties to verify the authenticity of the records independently. This requires additional database infrastructure to safely store the hashes of the data to compare against later.

 

How Can Blockchains Help?

At their core, blockchains are nothing but distributed databases that exist on millions of devices simultaneously. Because of their architecture, they are entirely immutable so for all practical purposes, information stored on a blockchain is permanent. Blockchains can be public or private depending on the nature of the use case. Public blockchains, which are the dominant type of blockchains that exist in the world today are useful because they have no barriers to entry concerning who can participate in the network. All of these properties that blockchains have built in are very useful to record management systems.

  • Accessibility – This is especially true in the case of public blockchains as anyone can participate in the network by sharing their computing resources. Bitcoin, the worlds largest open blockchain, can be used by anyone in the world to send money to any part of the world. Private blockchains can be used by corporations who want to have greater control over who can make changes to the blockchain as they deal with sensitive information.
  • Security – Blockchains by their design have been made so that they are entirely resistant to tampering and censorship. Any changes to contents of the blockchain require a majority of the support which is very hard to acquire due to their decentralized nature. That is why for all practical purposes, information once posted on the blockchain is permanent. This makes blockchains an instrumental candidate for storing sensitive data.
  • Data Integrity Audits – Because of the properties of blockchain mentioned above, they are very effective in checking against possible corruptions in the data. Factom, one of the biggest blockchain based data integrity solutions has developed a unique method of data audits. Factom takes hashes of the entire database at different times and stores that information in their blockchain which is anchored into Bitcoin’s blockchain. Then, if a third party wants to verify that the database hasn’t been modified, they can only do so by comparing the saved hash with the original hash.

Hash Function attacks

Blockchain technology is one of the most innovative discoveries in recent years. One of its core principles is the hash function.

What is Hashing?

Hashing is, simply put, taking an input string of any length and giving out an output of a fixed length.

Cryptographic hashing refers a special class of hash functions with set properties. To be considered secure, a cryptographic hash function needs to include properties such as always getting a consistent result irrespective of how many times you parse through an input, quick computation, and pre-image resistant among others.

In case of cryptocurrencies such as bitcoin, the transactions are taken as an input and run through a hashing algorithm (Bitcoin uses SHA-256) which gives an output of a fixed length.

Each input has its own unique hash. For examples, take inputs A and B where H(A) and H(B) are their respective hashes. It is infeasible for H(A) to be equal to H(B). Infeasible but unfortunately, not impossible.

What is a Hash Function Attack?

A hash function attack is an attempt to find two input strings of a hash function that produce the same hash result. Because hash functions have infinite input length and a predefined output length, there is inevitably going to be the possibility of two different inputs that produce the same output hash.

A hash collision occurs when two separate inputs produce the same hash output. This can be exploited by an application that compares two hashes together (such as password hashes, file integrity checks). However, the odds of a collision are extremely low, especially for functions with a large output size such as lengthy and widespread document formats or protocols but as available computational power increases, the ability to attack hash functions becomes more feasible.

How Does a Hash Function Attack Occur?

There are several ways a hash collision could be exploited. There are mainly three types of hash function attacks:

Collision attack: A collision attack on a cryptographic hash tries to find two inputs producing the same hash value. The attacker does not have control over the content of the message, but they are arbitrarily chosen by the algorithm. In this case, H(A) is equal to H(B).

Pre-image attack: In contrast to a collision attack, in a pre-image attack the hash value is specified.

Birthday attack: The birthday attack is based on the birthday paradox, i.e., the probability that in a set of n randomly chosen people, some pair of them will have the same birthday. Applied to hash function attacks, this means you have a 50% chance to break the collision resistance.

How Secure are Hash Functions?

No hash function is collision free, but it usually takes extremely long to find a collision.

Even if a hash function has never been broken, a successful attack against a weakened variant may undermine the experts’ confidence and lead to its abandonment. In the past, weaknesses had been found in several then-popular hash functions, including SHA-0, RIPEMD, and MD5. These weaknesses called into question the security of stronger algorithms derived from the weak hash functions such as the SHA-1, RIPEMD-128, and RIPEMD-160.

Also, there are applications of cryptographic hash functions that do not rely on collision resistance. This means that collision attacks do not affect their security. For example, HMACs are not vulnerable. For the hash attack to be successful, the attacker must be in control of the input to the hash function.

Are hash function attacks something to worry about?

The truth is that it depends on the hash function. Even MD5 and SHA-1 are not completely collision resistant but stronger functions such as SHA-256 appear to be safe for now.

Key Use Cases of Blockchain

Blockchain is a way out of most of the economic and financial problems of the world. Still though in its nascent stages, it has begun to revolutionize the whole world. Some of the major corporations of the world have begun to scratch the surface of the technology. It is a contemporary living example of how a revolutionary technology emerges from its fetal stages into growing wings.

Blockchain Uses & Solutions

Limitations in current technologies have led to the rise of blockchain technology. The technology finds plenty of use cases across almost all the industries. So, let’s look into some of the key use cases of the blockchain technology:

Perfect Solution to De-Risking or De-Banking

When banks pulled out of smaller economies citing loss as in the Caribbean islands, blockchain came to the rescue. Trade and inward remittances began happening through shared ledgers using bitcoins. The limitations in centralized conventional banking systems did not allow for profitable transactions to take place in smaller economies. Unable to work around the system and the regulations, banks pulled out to make way for blockchain technology.

Smaller economies, especially, have begun lapping up the technology to overcome the limitations in conventional banking. So, stock exchanges like NASDAQ and many other banks around the world have begun testing this new technology.

Easy Remittances

With Philippines being a fine example, remittances around the globe have started happening through bitcoin currency and distributed ledgers. Each country has a different regulation, when it comes to inward and outward remittances. Since blockchain technology eliminates the need for any intermediary, peer-to-peer and business-to-business transactions are made easy unlike conventional banking. Both domestic and international payments can happen quite easily through the blockchain mechanism.

Digital Identity & Digital Assets

Digital identity will form part of one of the most important of functions of blockchain technology. KYC processes throughout the world have been under fire for all their complications. Hence, blockchain-based KYC is the future with its distributed ledger technology. It is sure to make KYC processes easier, transparent and highly cost-effective, due to its shared, decentralized and verifiable nature.

Digital identity gives rise to the recording of digital and smart assets in the blockchain. An individual’s entire portfolio of assets and ownership goes into the shared ledger, which remains anonymous, verifiable and immutable. Digital identity and digital assets will become immediate parts of the blockchain, as soon as the technology goes fully ripe.

Smart Contracts

A Smart Contract is just like how blockchain functions but with the pre-programmed terms of a contract. Execution of the contract happens on its own, when both the parties fulfill the conditions laid out. The smart contract program, upon agreement of price between the two parties, executes the contract and performs the transaction automatically.

The software verifies the owner, performs the transaction and ships the product or transfers ownership registrations on its own. Smart contracts can execute purchase or sale of house, cars, financial instruments, marriage registration, divorce, property registrations, etc. without human intervention. The benefit is that it eliminates intermediaries as banks and brokers or agents and the individual performs the entirely transactions on his own.

The key use cases or application of blockchain technology will multiply in the coming years. It will take over most of the processes of many industries all over the world. It is also set to become an integral part of human lives in all our day-to-day activities.

How Blockchain can solve KYC problems globally

KYC (Know Your Customer) became a buzzword, after the 2008 financial crisis. The term became so popular that it is now part of common parlance. So, it predates some history and it did evolve out of complex social, financial and economic causes. In the process, KYC also led to a lot of difficulties in banking for both banks as well as customers.

Blockchain Solutions to KYC Problems

In the meantime, the current crop of technologies did not allow for a complete and effective manifestation of KYC. They didn’t encompass all the intricacies of human behavior nor did they simplify storage methods to encompass them all. This is where blockchain, as a new technology, comes in. It can solve many of today’s KYC problems to help banks concentrate more on their core businesses. Let’s explore how blockchain as a technology can solve KYC problems at the global level:

Onboarding Issues and Solutions

Onboarding has been a costly exercise for banks. It is an immensely time-consuming task as well. This is due to improper registry technologies and services. When a customer wants to open an account, banks send the customer’s personal information to the registries. They store the information in their databases and the customer becomes “KYC Compliant”.

As simple as this might sound, it led to many inconsistencies due to different regulations across different applications. This, in turn, led to repeated and redundant KYC submissions and checks, which cost enormous amounts of time and money. So, blockchain, as a sort of distributed ledger technology, publishes the information across all the nodes, once verified. The data gets decentralized in place of the current centralized registry services and technology. Thus, a KYC once performed can be accessed by multiple nodes with unique permission from the customer. This makes the process much easier, simpler, less time consuming and cost-effective. We at RecordsKeeper are solving this problem by allowing the users to put their personal & official records in the Blockchain locker & use them to get their KYC done. Sign up for the RecordsKeeper to know how it work.

Secure Storage of Data

Decentralized data is far safer than centralized databases. The latter is far more prone to attack, as chances of losing all the information to hackers are quite high. Decentralized data, published across millions of nodes, is highly immutable and less prone to hacking attacks. Since all nodes have to agree on the transaction, the data remains highly immutable. The data is also completely encrypted and anonymous, unless shared peer-to-peer with the bank or the agency by the same person.

Lower Overhead and Operational Costs

From soloed databases to redundant and repetitive checks, centralized database technologies run up costs, time and effort to huge levels. KYC processes are also usually counter-productive or less productive. So, this can lead to a lot of friction preventing banks from providing seamless services.

Thence, from the $6,000 to $25,000 spent on onboarding and $80,000 per petabyte of data, blockchain databases will cost less than just $5. So, blockchain is a technology that will solve many of today’s KYC problems and reduce cost, time and effort to make KYC processes easy and efficient.

Launching In-House RecordsKeeper’s Public Blockchain

Launching in house RecordsKeeper’s Public Blockchain

This blog will help you to setup a RecordsKeeper’s Public Blockchain node on your local machine or remote server, you can download and install RecordsKeeper’s client on a local machine or remote server.

Here are the following steps to be followed to setup a Recordskeeper’s Public Blockchain node.

Step 1: Connecting to the RecordsKeeper Blockhain

To connect to RecordsKeeper Blockchain run the following command in bash or command prompt.

  • RecordsKeeper Testnet

rkd [email protected]:8379 -daemon

  • RecordsKeeper Mainnet

rkd [email protected]:7345 -daemon

When you run the above commands the create a node connected to the RecordsKeeper Main node. The command will automatically sets the permissions and consensus required for the Blockchain.

RecordsKeeper Testnet is a complete open Blockchain, when you connect to the Testnet you will have the permissions to connect, send, recieve and mine but the RecordsKeeper Mainnet is currently under consensus rule for a certain number of Blocks (You can read more about that in the RecordsKeeper Whitepaper) to avoid takeovers. When you connect to the RecordsKeeper Mainnet, you will recieve an address. You can send that address to us through RecordsKeeper Mining Permission .

Step 2: Interactive command line mode

Before we proceed, let’s enter interactive mode so we can issue commands to interact with RecordsKeeper Blockchain.

  • Testnet

      rk-cli recordskeeper-test

  • Mainnet

       rk-cli recordskeeper

Step 3: Some basic commands

Now your node is up and running you can issue some basic commands in the interactive mode to get some feel about the RecordsKeeper

  • To get general information about the RecordsKeeper Node:

            getinfo

  • See a list of all available commands for the RecordsKeeper Node:

            help

  • List you all addresses in the RecordsKeeper Node wallet:

            getaddresses

Step 4: Sending a transaction in RecordsKeeper

The RecordsKeeper Blockchain works on the same backend as Bitcoin algorithms. Both the RecordsKeeper Testnet and Mainnet can be used to send and recieve XRK tokens. Use the following interactive commands to send transactions in RecordsKeeper Blockchain.

  • Send

      send address amount (comment) (comment-to)
 

This command works like publish, but publishes the item from from-address. It is useful if the node has multiple addresses with different amounts. The mining fees is applied as per the transaction size.

This command is used to Send one or more XRK tokens to address, returning the txid. The amount field is the quantity of the XRK token and the address field is the address where you want to send the XRK tokens. This command will use the Node’s root address to send the transaction. Please make sure you have sufficient balance in the Node’s root address for transaction to propogate over the RecordsKeeper Blockchain. You can also provide specific comments for the transaction which are optional. The fees will be applied as per the transaction size.

  • Send from different database

      sendfrom from-address to-address amount
 

This command is also used to Send one or more XRK tokens to address, returning the txid. Using this command you can specify the from address which you want to use to send the transaction. The amount field is the quantity of the XRK token and the to-address field is the address where you want to send the XRK tokens. Please make sure you have sufficient balance in the from-address for transaction to propogate over the RecordsKeeper Blockchain. The from-address used here is also one of the address generated for the Node. You can also provide specific comments for the transaction which are optional. The fees will be applied as per the transaction size.

Step 5: Publishing and retrieving data in Recordskeeper

The RecordsKeeper Blockchain is a open public Key-Value based Database over the Blockchain. You can use the interactive command line to publish and retirive stored information. As the Blockahin is a shared concept you can view all the published data and retrive it only using a key or address. RecordsKeeper uses the streams to store the data. RecordsKeeper Streams provide a natural abstraction for RecordsKeeper blockchain which focus on general data retrieval, timestamping and archiving, rather than the transfer of tokens between participants.

The “root” stream is open to all and anyone can publish data into the root stream. Following commands will give you a brief about how to work with data over RecordsKeeper Blockchain.

  • Publish

         publish stream key data-hex

  • Publish from a different address

      publishfrom from-address stream key data-hex
 

This command works like publish, but publishes the item from from-address. It is useful if the node has multiple addresses with different amounts. The mining fees is applied as per the transaction size.

  • Send as transaction

     sendwithdata/sendwithmetadata address amount data-hex|object
 

This works similar to send, but with an additional data-only transaction output. You can pass raw data as data-hex hexadecimal string. It is also used to publish the data to a stream, pass an object like this {“for”:StreamName,”key”:”KeyName”,”data”:”DataHex”} where stream is a stream name, ref or creation txid, the key is in text form, and the data is hexadecimal. You can pass the amount as 0, if you are only using this to publish the data over the RecordsKeeper stream. You can also send some XRK tokens while publishing the data over the stream. The fees will be applied as per the transaction size.

This is custom heading element

    [recaptcha]

    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.

    Blockchain plays multiple roles, as a widely accepted form of transaction and record keeping technology. In case of Bitcoin, It is a universal ledger, wherein all bitcoin transactions across the world are recorded. Blockchain didn’t feature in Satoshi Nakamoto’s whitepaper. Yet, it has been making all the difference to the world than even bitcoin has. So, let’s explore what some of the uses of this technology will be in the future:

    Blockchain has been gaining Universal Acceptance

    Blockchain, as an open source code technology, has gotten universal acceptance. Consensual peer-to-peer acceptance is important for any transaction to happen. Both Bitcoin and Blockchain have gained acceptance as a universal form of currency and record keeping ledger, respectively. So, in addition to record keeping, the whole world will use this technology for a plenty of other reasons. Let’s take a look at what some of them are:

    • Enterprise KYC

    Storing and Verifying Enterprise KYC/Government IDs over RecordsKeeper Blockchain

    KYC procedures and Compliance have become increasingly important in the banking industry as regulators are keeping track of banks by noting down with whom they are doing business. It is done to avoid potential money laundering or terrorist financing. Currently, institutions offering financial or professional services are obliged to follow time-consuming and expensive practices for each new customer. These KYC processes can delay business as it can take up to 30 to 50 days to complete satisfactorily. Some estimates showed that global spending on AML compliance alone is close to $10 billion. Banks are also coming under pressure from various investors and analysts to reduce cost, but many expect that the compliance budgets to increase in the coming years rather than to decrease.

    The adoption of Blockchain technology could lead to the reduction of AML and KYC costs thanks to its cross-institution client verification capability, as well as its effectiveness in monitoring and analyzing data required for AML and KYC checks. RecordsKeeper solves this use case entirely, without the need to maintain physical documents. The authenticity of these documents can be easily verified because of the nature of the Blockchain. RecordsKeeper streams can keep records of various identification cards, which can be shared and validated when required by any enterprise unit or the government agencies.

    With RecordsKeeper Blockchain, the verification of a client or the legality of a transaction could take place once, with the final result cryptographically stored in the RecordsKeeper Blockchain. Organizations such as banks or administration services providers would be able to get rid of the multistep AML and KYC processes. More specifically, all of the information related to a client would become available to organizations with the appropriate permissions via a distributed database that would be considered a single source of “truth.” So, when some bank has verified a new client, then they can put the client’s data on RecordsKeeper Blockchain which can then also be accessed by other banks and accredited organizations, like loan providers and insurance companies, without the need for the KYC process to be started all over again by another party. These parties would know that the client’s information has been independently audited and verified by various miners so that no more KYC checks are necessary.

    • Insurance Records Keeping

    Using RecordsKeeper Blockchain to store insurance records:

    This use case addresses improvements in the operational functions of an insurance company. It also helps in improving their dealings with intermediaries, providers, and policy holders resulting in excellent customer experience, enhanced product value, and also helps in laying the groundwork for greater customer choice in the market. The overall motive behind this is to improve operational effectiveness, decrease costs, and further strengthen the relationships with the insured. The following can be achieved with structured storage:

    1. Moving towards interoperable, comprehensive records The added security and ability to establish trust between entities are the basic two reasons why RecordsKeeper can help in solving the interoperability problem better than today’s existing technologies.
    1. Detecting fraud more effectively When fraudulent information is submitted to insurer through false claims, by falsified applications, or through other channels, RecordsKeeper can help in determining whether the submission is indeed valid or not.
    1. Improving provider directory accuracy The technology’s decentralized consensus can be leveraged by the unique provider directories to allow providers and insurers for easy and quick update listings
    1. Simplifying the application process by making it more client-centric Providing an easier-to-access, more comprehensive set of insurance records on a Blockchain can help in infusing comfort and peace of mind into what, for many, which is now an intrusive and often discouraging application process.
    1. Facilitating a dynamic insurer/client relationship Electronic records securely stored on a Blockchain could be the foundation for integrating a wide variety of wellness-related behaviors into the insurer/client dynamic.
    • Corporate Compliances Records Keeping

    Using RecordsKeeper Blockchain to store Corporate Compliances

    One of the most tempting features of Blockchain from the compliance perspective is its practical immutability. As soon as data is saved onto the chain, it cannot be modified or removed. This is one of the major feature making Blockchain used as the document or proof for the transfer of any digital asset.

    RecordsKeeper tends to apprehend pain points for financial institutions and regulators. Saving one shared permanent record on the Blockchain will reduce the need for duplicity, thus elevating the need for both financial firms and regulators, ultimately which can turn up as a tremendous cost saving for the entire industry. It would also expedite the regulatory review process since there would no longer be a need for reconciliation. A business unit can monitor regulatory feeds and update their records based on regulations in the RecordsKeeper Blockchain. Each compliance document is either acknowledged or dismissed based on the regulations. Every approved document is stored in the RecordsKeeper Ledger and can be shared and verified when required.

    • Verify Academic Certifications

    Upload and Verify Academic Certifications over RecordsKeeper

    Academic certificates can be easily issued and verified using RecordsKeeper Ledger. The educational authorities issue a certificate and give the user a receipt which they can share with any third party to prove the authenticity of the certificate. When the third party receives this receipt, they can easily check it’s authenticity on the RecordsKeeper ledger.

    Additionally, RecordsKeeper adds following features in this medium in the following ways:

    **Transparency** – Both the parties who are interested in viewing academic credentials can see it on the RecordsKeeper blockchain. This ensures that only people with ownership rights can make decisions about who has access this information.

     **Immutability** – Blockchains are the most secure source for storing the information right now. They rely on the integrity of the network to ensure the authenticity of the stored information. So, the Academics certificates stored on the RecordsKeeper blockchain are immutable.

    **Disintermediation** – Using Recordskeeper blockchain to store and share academic credentials helps us bypass the need for a central controlling authority that manages and keeps records. This makes the overall process of storing credentials more trustworthy as there are no middlemen involved.

      **Collaboration** – Once the information becomes available on the RecordsKeeper blockchain, it is much easier to ascribe ownership and therefore, safer to share the information without the fear of this information getting compromised.

    • Supply Chain Management

    Supply Chain Management over RecordsKeeper Blockchain

    RecordsKeeper can help improve the supply chain management in following ways:

    • Recording the quantity and transfer of assets – like pallets, trailers, containers, etc. – as they move between supply chain nodes
    • Tracking purchase orders, change orders, receipts, shipment notifications, or other trade-related documents
    • Assigning or verifying certifications or certain properties of physical products; for example determining if a food product is an organic or fair trade
    • Linking physical goods to serial numbers, barcodes, digital tags like RFID, etc.
    • Sharing information about the manufacturing process, assembly, delivery, and maintenance of products with suppliers and vendors.

    Each unit has a set of compliance which needs to be followed. RecordsKeeper, can make sure that compliances are being followed, throughout the process. At each unit, the current status of the supply and it’s related compliance is approved and recorded in the ledger by the concerned unit, thus helping in maintaining transparency among all units. The RecordsKeeper will maintain copies of receipts, orders or notification, etc. and will make sure that their integrity is maintained. RecordsKeeper helps you set the rules for recording the data. Thus you can set the compliance conditions and only when the conditions are met, RecordsKeeper will allow the user to share the data.

    • Trustless File Sharing

    Trustless File Storing and Sharing over RecordsKeeper Blockchain

    Data sharing has always been prone to attacks; hackers are always present in a search for ways to hack any data through means of channel diversion or accessing the encrypted transferred data. RecordsKeeper can be used for creating a system which will help in sharing data over the network securely. This system will encrypt the file with receiver’s public key before sharing. Once the receiver receives the file, they can decrypt it using their private keys. At each stage, the RecordsKeeper will maintain the metadata of the file and keep track of all the changes made in it. Thus, both the parties can verify if a document has been manipulated or not.

    The primary benefit of using RecordsKeeper blockchain for File sharing is the safety of the data. Information present on RecordsKeeper blockchain is immutable and unalterable which makes it safe and secure. In case of the RecordsKeeper blockchain, if a user uploaded the file, then the hash of the file gets stored in the blockchain, and then the user can verify the authenticity of the file by using the hash and claim the ownership.

    • Government Regulations

    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 on some government agendas, for example, governments are not able to implement health or food policies efficiently due to incorrect data recorded. RecordsKeeper can effectively be used as a solution for this problem, records with proper and unalterable information can be saved over the RecordsKeeper Ledger which can be easily accessed when required.

    This information is safe with RecordsKeeper as the digest of the document is saved in the Ledger which when altered, gets completely changed making the verification process effortless. RecordsKeeper platform aims to significantly reduce the time and resources spent on cross verification of the identification documents. Once the data gets stored in the RecordsKeeper blockchain by the document hash user can claim ownership on the file. By this mechanism, the chances of generating the fake documents get reduced. So, with the help of RecordsKeeper, we can increase the authenticity of government identification documents.

    • Land Ownership Record Keeping

    Land Ownership verification over RecordsKeeper Blockchain

    For any high-value property (real estate, cars, art) it is important to have accurate records which could identify the owner. These records are used to protect owners’ rights, i.e., in case of theft, helps in resolving disputes, makes sure of whether ownership is correctly transferred to a new owner after the sale and helps in preventing sale fraud. Thus, it is necessary to maintain correctness, as well as completeness of this information to avoid unauthorized and fraudulent changes.

    Currently, people have to rely on a trusted third party. E.g., a government agency might be responsible for keeping track of ownership information. Sometimes, these records are not preserved systematically.RecordsKeeper solves this problem completely, as it provides a complete way of sanctioning, approving and saving all sorts of asset information which can never be falsified or altered.

    The current process for clearing a land deed is very complex and requires house buyers to hire a middleman to clear the land deed for them. This is a complete waste of resources, both human and monetary, to accomplish something that can easily be done with the help of a public blockchain, i.e., RecordsKeeper. In addition to making the process a whole lot more efficient, registering land deeds on a public blockchain also ensures that owner information cannot be manipulated in any way, adding another layer of security for the homeowners.

    • Employee Verification

    Employee Credential Verification over RecordsKeeper Blockchain

    Employers face a major hurdle in hiring employees when they require verifying candidates credentials. A survey made by one of the largest online job finder sites, CareerBuilder, states that a staggering 58 percent of employers have caught a lie on the resume of individuals. A separate report on the 2015 hiring outlook done by HireRight, a company majorly offering global background checks, employment verification services, and drug testing show that screening uncovered lies or misrepresentations on a resume is required for 86% of employers. There is no doubt that resume accuracy is a common problem in the current environment and the effort required to verify credentials, impacts on the hiring process and costs employers, time and money. This is where RecordsKeeper will increase transparency and address frauds in employee credentials.

    RecordsKeeper helps employers in identifying the employee, with details like the source of funds, business interests, and the employer history. They also monitor the progress along the way. Every employer has to perform the KYC process individually and upload the validated information and documents to the RecordsKeeper that stores digitized data tagged to a unique identification number for each customer. By using this reference number, the employer can access the stored data to perform due diligence whenever employee apply for a new job to verify the information of the employee is valid or invalid.

    • Health Record Manifest In Judiciary

    Health Record Manifest requirements for Judiciary over RecordsKeeper Blockchain

    In today’s digital society, everyone is concerned about the privacy and security of personal data, especially in health care. So we need higher transparency in medical information, patients privacy and reducing possible security breaches. People nowadays are faking their health status and problems in claiming health insurance while some also fake medical cases to claim the fraudulent money. These cases when taken to court, turns into complications due to lack of judicial system assertions. RecordsKeeper enables the sharing of information on a secure, tamper-proof and indelible platform. Nothing can be tempered or fraudulently conveyed over the RecordsKeeper Ledger. Once the record is saved, it is easily verifiable, stays in the system and easily accessible.

    By using RecordsKeeper blockchain Hospitals can store the patient’s data and it will remain immutable by this data Doctor’s can completely track the patient’s progress. Also, there is another significant advantage, if you go to the vacation in Switzerland, then the Doctors of Switzerland can track your data from the New York’s hospital and can provide you better treatment because the data is immutable and present on the distributed public ledger. So, we can say that with the help of RecordsKeeper we can completely revolutionize the health industry.