This is the most common doubt among people around Blockchain’s value. Here is to the point answer to this.

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Decentralization, Immutability & Security is the answer for your confusion. These things are very hard (almost impossible) & expensive to achieve in the tradition technologies like Dropbox, Google Drive etc.. Encryption & high availability are the add-on benefits in RecordsKeeper which is optionally available in traditional technologies at the high cost. But in RecordsKeeper these things are available at low cost with high confidence due to Blockchain. Blockchain also makes the whole system immune to hacker & human error (due to decentralization).

Because of being on Blockchain, we are offering Incorruptible, Unchangeable, Encrypted storage for documents which are the utmost important part in any record keeping solution. Documents verification will be a very smooth ride in Blockchain but in traditional solutions, there always be a doubt/insecurity due to its nature of corruptibility. 

Also, all 4 major aspects of security can be achieved in RecordsKeeper’s Blockchain with high confidence in lesser cost. While in traditional technology you have to invest a lot to achieve these below 4 aspects of security:

  • Confidentiality.
  • Integrity.
  • Availability.
  • Non-repudiation.

This TCS’s white paper explained how current KYC solutions work, Challenges in current solutions, and how Blockchain can overcome these challenges with lesser cost. Our solution is fully aligned with that recommendations.