A new research paper released by market analysis and advisory firm IDC Government Insights (International Data Corporation) provides evidence for the use case of blockchains as a secure way to store, time stamp, and efficiently audit data.
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IDC: Blockchain Could Make Government Records More ‘Secure and Transparent’
The report, The Blockchain Audit Trail: Helping to Establish Government “Data Authority” and Information Accuracy, was specifically intended to be a market report for government uses for the blockchain. According to the report, it’s possible that blockchain technologies could be a key tool for confirming data origin and accuracy, tracking updates, and establishing true data authority for millions of different data fields.
One of the report’s main findings is the blockchain’s ability to track and store government records in a secure and transparent manner, helping to improve the authenticity of the documents. The blockchain would be able to track records by confirming their existence in a block — where other entries related to those activities can be found through a shared record that is both immutable and hack-resistant.
IDC Government Insights research director Shawn McCarthy has this to say about the blockchain: