Blockchain can be defined as a decentralized & distributed digital ledger where the intended use is to record transactions across computers in a way that the record cannot be altered retroactively without altering subsequent blocks & the collusion of the network

1. Block Chain & Role of Records Management Using Blockchain
In today’s ever changing times, it is very essential to ensure the trustworthiness of
records and it is indeed a necessary requirement givena range of different
contexts.
This is not only a requirement for companies traditionally in the business of
document archives but also for many of those organizations that never though
themselves of performing an archival function
Blockchain can be defined as a decentralized & distributed digital ledger where
the intended use is to record transactions across computers in a way that the
record cannot be altered retroactively without altering subsequent blocks & the
collusion of the network.
Today there are a lot of companies in the Financial Domain & others who are
experimenting with the distributed ledger.
The continued enthusiasm amongst these companies is spreading fast and is being
closely being reviewed by the traditional record archival companies too.
While there are numerous ways and various software solutions available to protect
& verify the authenticity of paper documents (time stamping, water-marking),
however they are not reliable.
These many documents in their digital format can be modified in turn making it
difficult to trust the veracity of these documents. Blockchain as a technology that
can definitely address the above problem to ensure and secure Records and it
equally becomes important for records management professionals to understand
the technology.
Cassie Findlay of the Recordkeeping Roundtable writes
“A decentralised archive utilising the blockchain as a storage mechanism could
offer an uncontested space from which records could be accessed. Documents and
other sets of data can be validated by the blockchain – even if an application you
used to get it there is not working.
It is decentralized proof which can’t be erased or modified by anyone;
competitors, third parties, governments. This is what distinguishes using the
blockchain from other forms of data time-stamping and authentication.
The technology potentially offers a means for society – or at least groups within
society – to keep their own records with some assurance about inviolability and
longevity that was not possible before (Findlay, 2015).”
With the growing interest about blockchain technology as a solution for Records
Management, there is an urgent need for professionals in the records management
industry to understand the implications of relying on this technology.

2. Using Blockchain (A Digitial Mechanism) will enable users who don’t know each
other to engage in trusted transactions at the same time ensuring integrity of the
assets being exchanged.
It accomplishes this by embedding authentication into the document itself & by
using a closed loop tracking system to protect against misuse or modification.