Top 5 Benefits of Blockchain based Document Verification
Rather simply uploading the document to the server blockchain based document verification helps to validate the document using blockchain technology. In general, Blockchain based Document Verification is a digital platform in the blockchain where it is used for issuing digital documents to the blockchain. The issued documents can be verified by the users through proof of existence via initiating a transaction in the Blockchain. The benefits of this technology are listed below
- Quick and Easy Access
When we are dealing with any type of paperwork files, the process is always time-consuming and won’t be accurate in most cases. The data stored in the blockchain networks are easy to fetch by anyone and can verify the document. Once the document is hashed into the blockchain network, it is nearly impossible to modify the document which means once the data is stored it cannot be modified. But there are cases where the original user needs to modify the document in order to rectify the mistakes in the certificates. For that, the user needs to generate another transaction in the blockchain network and is recorded in the blockchain.
2. Space Saving
The main problem of paper-based documentation is that we need to store the documents for future verification. Large business organizations need to maintain the document of each employee and all those files need to be arranged manually for analyzing. Once the documents are digitally stored, it is easy to maintain and record the documents. Blockchain-based document verifications help the organizations to store the documents
3. Security
Blockchain certification through blockchain is powered by blockchain, where blockchain is a decentralized network and is providing better security compared to any other services. This technology will ensure that only those with authorization and the need to view the secure information have access
4. Fully Interoperable
Document Verification provides interoperable service where anyone independently can verify the document and can issue the records.
5. Ownership of the document
Using Blockchain based Document Verification, it will enlist who created, modified and accessed the data in the network.Document Verification uses blockchain technology to certify the document.
