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Leveraging the records management DNA in the Blockchain

March 3, 2018 Blockchain, Records Management

Records Management Blockchain

THE BLUF (bottom line up front):

Records management and the blockchain are on a crash course of co-existence. New technologies and well established principles can exist for in the tomorrow world.

Tumii Blockchain
Did you know that the Blockchain can store your records? In fact, the blockchain ensures that your records are unable to be tampered with.

Tumii Records
What is the blockchain?

In this day and age, it has received a lot of popularity due to rising values of Bitcoin and alternate cryptocurrencies.  The Blockchain itself is a digital ledger, which is used to record transactions made amongst users. Whether transferring money between users, establishing a contract or even transferring possession of an asset, the Blockchain is a central tracking of this rich history of human interaction.

Oh, tell me more?

In other words, it’s one database for the whole world, that is made of internet connected individual computers. The blockchain database has the potential to transfer all sorts of assets between two or more parties. Medical records, deeds to a house, and even vote counts.

Is there one blockchain for everything?

Great question! There are many new blockchains being created regularly with improvements to the ones that already exist.

That sounds very complicated. How are these transfers tracked?

The ledger fills with information into a block and when, full it prompts the creation of a new block which is linked through a timestamped algorithm. These blocks can be interconnected into the next indefinitely.

Is it safe?

Yes, it’s very safe. Before a new transaction can be written into a block, it is validated through a crowd consensus of at least 51 percent of all interconnected computers.

For the management of records, are there any countries or governing agencies attempting to use the blockchain for corporate records?
Yes! In fact, there are several considering this for Government records already such as Estonia, Dubai and Sweden.

How do we ensure records once approved are fixed or immutable?
In practice, immutable records are established through the 51 percent crowd consensus and validation to write transactions to the ledger. This approach makes the blockchain a trustworthy, secure and viable alternative to placing our trust in one company, institution or organized body.

The concept of immutable records has me intrigued. With that there is also processes, controls and overall governance applied around the management of records which gives it its’ defensibility. 4 Base characteristics for this are ‘AIRU’ – Authenticity, Integrity, Reliability, and Usability. What would I need to consider if leveraging the blockchain inside my organization?
Lets decompose how the blockchain’s’ ability to render  records immutable can support compliance. (Fig. 1.0)

Fig. 1.0

Authenticity Integrity
Premise:
Created by the person who it says it has been created and declared it as the record it is intended to be
Suggestions:

    • Validate the tools used to create the content initially before upload or transfer through the chain.
    • Ensure a secure login to the chain (with a private key validation per unique user)
    • Protect private key from unsolicited access and the secure login and usage of the tools used to create the record.
    • Ensure policy around ‘records systems’ includes usage of your blockchain system.
  • Establish procedures for staff usage of the system that will house official records.
Premise:
Content is complete and unaltered
Suggestions:

    • Prove through audit logs (i.e. the blockchain itself) that it wasn’t changed from its original date of creation and it wasn’t modified.
    • Establish procedures around the management and leveraging of the log as a source of transaction verification.
Reliability Usability
Premise:

The source or system can be trusted as a full and accurate representation of transactions.

Suggestions:

    • Establish procedures and training for users to shape ‘routine ways of working’ or a precedent of using the system as part of their daily course of business.
    • Build a couple years of history doing business in a predefined method to defend its reliability.
    • Ensure adequate system maintenance and support including day to day service requests, security validation and long-term business continuity procedures.
Premise:

The record can be located, retrieved, presented and interpreted

Suggestions:

    • Select blockchain technology that has a strong case for records lifecycle management, content storage and long-term preservation.
    • Validate your system against standards for records keeping systems (e.g. common standards like Dod 5015.2)
    • Establish a process to convert complete records to an industry best practice preservation format (e.g. PDF/a).
0

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