Registration of tangible asset ownership
Blockchain is the technology that utilizes open decentralized/ distributed ledger of transactions involving value. Its coding method allows for secure record keeping in distributed online ledgers where members share and confirm information with no central authority. Blockchain platform for Unified Registry will provide the trust and security needed for multiple stakeholders to connect on the shared ledger.
Claim certifications and authenticity verification
Blockchain provides a secure digital distributed ledger that will connect multiple participants to one source of data – the golden record of truth. This can be leveraged to implement seamless business processes which involves various participants and eliminates the need for issuing the paper-based certificate credentials. The authenticity of these digital certificates can be verified by the anyone instantly against Blockchain, without depending on the manual intervention of the Issuing authority. Digital medium is protected with cryptography
Commercial value record keeping
Blockchain provides immutable and transparent transactions. Decentralized and distributed ledger also eliminates any process of reconciliation and settlement.
Transactions and Trust
Blockchain is highly secure and almost impossible to counterfeit due to underlying cryptography used. Independent auditor can monitor mischief in the network. Blockchain will provide the trust and security needed for multiple organizations to connect on the shared ledger