Blockchain company LogSentinel puts corporate docs on the ledger

The hype about blockchain technology and all the use cases where it can be applied has not subsided yet.

It’s revolutionary discovery in terms of information security. And one of the best use cases in terms of infosec is its potential to protect sensitive documents.

Such blockchain-based document protection can help organisations in their efforts to comply with personal data regulations, commercial acts, and any other regulations and standards requiring trackability of documents. A blockchain document trackability is capable to unleash the following features:

Auditing existing documents and keeping an unmodifiable version control
Streamlining auditing processes and reporting, increasing productivity and reducing costs by automating the document version control processes
Managing document security risks more effectively and responding quicker in the event of a breach.
Monitoring anomaly activity and preventing malicious actions based on AI-driven report

Blockchain Document Protection: Use Cases

Documents are by default not protected from manipulation. Anyone with access to a document can modify it and even counterfeit it. Companies face serious challenges in terms of reconstructing original files and investigating who has modified them. With blockchain-enabled protection, companies can implement a whole new layer of trust between them and their strategic partners:

Procurement anti-fraud document protection. Many companies have concerns that their strategic partners are likely to modify part of a contract’s Terms and conditions in their partners’ favor without their knowledge. Blockchain-protected version control ensures that a certain document won’t be modified right before being signed, keeping a record of every single modification along with the exact moment of this event.
Protecting electronic invoicing. Back in 2002, The Sarbanes-Oxley Act (SOA) was passed by Congress in response to various issues, including corporate mismanagement…

Source Link