How Data Authenticity Can Be Proved Via Blockchain?

By Author: ProofEasy
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You can witness so many industries of various sectors have begun using blockchain technology or are looking to opt for it. You can take an example of - the Internet of things, anti-counterfeiting, cloud storage, digital identity etc.

What is blockchain technology?

Blockchain technology is the distributed database that maintains constantly heightening lists of records and are secured from any kind of tampering or revision. It contains - data-structure blocks that may contain programs or data. Every block holds some batches of individual transactions. Each of the nodes in the decentralised ledger system has a copy of the blockchain. Not a single centralised official copy is there and not every asset is trusted more than the other. Blockchain document security methods can effectively help in securing valuable documents.

Blockchain stays across the network of nodes. When a new transaction happens, the blockchain is authenticated over this distributed network, and before this transaction can be incorporated as the next block on the chain. No one can cheat or hack. If any person tries to cheat ...
... this system, then they can be identified with ease. In short, the blockchain is an "Append-only" database along with transaction orders.

It can be said - "Blockchain is everywhere". The blockchain is used in financial sectors along with logistics, security, operations and in more practical areas where tamper-proof documents and information are needed for operations.

Why is data authenticity needed?

Data authenticity is required in this contemporary world of fake scams, news, certificates and identity theft. It is becoming harder for people to deal with these issues and even more complexity is in establishing business relationships based on reliability or trust. Authentication via blockchain can help in proving the genuineness and integrity of the records. Many countries are including blockchain technology in their public record-keeping systems. It is a big step and can lead to greater transparency and tamper-proof data in the management of keeping records.

What does a blockchain transaction contain?

• A file hash
•The public key of the transaction sender
• The timestamp

They offer:

•Timestamp and file hash - They provides proof of authorship as well as proof of authorship
• File hash with the public key of the document issuer signed gives proof of authenticity
• File hash gives you proof of identity

Data authentication via blockchain technology

a) In identifying fraud

Identity fraud can occur to any person. Most of these incidents happen online. Managing digital identities usually comes with great risks because there are huge chances of personal information & devices being compromised. Authentication via blockchain technology can minimise the chances of identity theft. With just a key pair system like the crypto wallet, you can easily authenticate them by using a digital identity that is registered on the blockchain. Like the records, users can have a unique address for storing data with hashes for every single attribute. It can include much information like name, identity number, even fingerprints. Every person can access that information by using those unique passwords. Any changes in the data of someone can be registered automatically on blockchain. It can become a well-suited way over time for authenticating the identity of people to access information such as financial, banking, passport controls and so on.

b) In the arena of art

In the art world, blockchain can prove to be the best technology. Provenance in the art genre means - a list of all transactions that shows the movement of the artwork from one owner to the other. Mainly these data can prove the history of those pieces from the time they had left the real owner (better to say the artist) till the present one. The more valuable artwork is the greater volume of paperwork that comes with that. Gallery bills, shipping labels, auction records etc are just a few of the data that can demonstrate that an art piece is original. With all paper documents, it is very easy to falsify provenance. Even fake artworks are also sold like the original ones for millions of bucks. Authentication by blockchain can effectively reduce the chances of forgery to almost zero. The documents containing data regarding artworks can be recorded & stored by the respective certification boards on the blockchain. Living artists can also utilise blockchain technology to the fullest for authenticating and certifying data of their artworks. Immediately from the time, any kind of change in the ownership will appear automatically on the blockchain by terminating every risk of fraudulence and forgery. With the constant online development of purchasing & selling artworks, there will be no middlemen like dealers or art galleries for authenticating artworks. Thus, you can receive tamper-proof data.

c) Management of records

Blockchain technology can enhance document records in several ways. By registering on the blockchain automatically you prove the authenticity. The potentiality for blockchain authentication can reduce the bureaucracy to certify financial statements, legal data etc. It can also help audit-trail documentation for proof of process because blockchain can track each movement. It also includes changes made, when they have occurred and that too for how long every change was valid. Most of the blockchain can bear multiple file formats.

The process of record-keeping of student credentials and certificates at educational institutions can be completely transformed through blockchain technology. The users can use blockchain technology and eliminate the requirement of third parties while authenticating valuable data consisting of things such as certificates, diplomas, degrees and other papers. It is good to have blockchain technology opted by educational institutes to keep student credentials rather than in the form of paper diplomas and degrees. It will let the institutions store information of pupils in the blockchain. Blockchain document security can efficiently secure your valuable documents.

So, data authentication via blockchain technology is the next biggest thing to prove the authenticity of data. Due to the core features of blockchain being tamper-proof, it offers a high level of security and reduces risks of scams, frauds, forgery etc. Nowadays the manual authentication process is quite hefty and time taking as data is increasing day by day and here blockchain authentication can come to the rescue.