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 duplicacy, 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.