Document Verification and Blockchain Technology
As we all know that when the smart contract has introduced the technologies with blockchain are being introduced in many areas. The blockchain Technology is quickly developing and numerous engineers are already started their endeavors to create applications related to blockchain. Document Verification is one among the application that can be utilized to check the records using blockchain. Before examining how blockchain technology is utilized to check the records. Let us talk about what is Blockchain Technology. From the name itself, it is clear what blockchain will be, blockchain comprises of blocks and is associated with one another to form a chain. Each block contains a specific arrangement of information and the data about the recently associated block. It is said that the information stored in the blockchain network is permanent, which implies, once the information is recorded to the blockchain network, it is nearly impossible to adjust the recorded information. This is the reason why Blockchain Technology is applied in the area where the computerized recording of data or information is collected and stored.
How Document Verification Process is done in Blockchain.
So as to check how blockchain works, the underlying procedure is to record the hash code of each data into the Blockchain network. The recorded data can be checked by analyzing the hash codes accessible in the system. So as to get the hash codes, the data or the information must be hashed. Blockchain system won’t store the whole data of the reports being transferred rather it stores just the hash code of the record. For each report the hash codes are unique and the hash can be utilized to cross-check the data stored on the blockchain network. The data stored in the blockchains are mainly used in the financial area and by the related organizations. The point when a client presents a record for KYC for a specific bank, the bank would then be able to utilize the hash code of the submitted report and check whether that submitted archive is veritable or not. If there is any alteration or change done in the submitted report, the hash codes won’t match. By using the Blockchain Technology the authoritativeness of the certificates can be cross-checked and can easily identify the fake certificates.