- Insurance
- Education
- Finance
- Healthcare
- Government
- Manufacturing
All the sectors listed above have one thing in common. Can you make a guess? No? It’s nothing but massive data. Yes. All of them are handling a large volume of data on a daily basis. And, they need to maintain a lot of databases to store this electronic data as they are available in different file formats. Because, the size of every file format varies, they need to utilize dedicated servers for storing the large data. That’s why the total money spent towards the data storage worldwide is close to 10 billion USD in 2017. This amount will increase in the coming years as the size of the data keeps on growing.
Even though most of the organizations are trying hard to reduce their expenses towards the data storage, they are not able to achieve the same. Plus, the existing systems which are based on the traditional technologies like Oracle, MySQL etc. cannot assure 100% guarantee that the data will not be lost or gets corrupted for whatever reason like hacking, failure of servers etc. Only very few companies like Amazon, IBM etc. offer cloud-based storage and the security of the data stored on the cloud is fully dependent on these companies.
RecordsKeeper is developing an innovative P2P (Peer-to-Peer) solution which offers structured storage at low cost for both individuals and businesses. How is RecordsKeeper different from the existing data storage systems? It offers the following features:
- You can easily integrate the RecordsKeeper with your existing local infrastructure or cloud storage
- It provides Immutability, Integrity, Authenticity, and Verifiability for all the data stored
- The stored data can be used as a proof-of-existence / proof-of-integrity or proof-of-authenticity which can be accessed at any point of time without depending on any third party provider
- Reduces the overall cost of data storage
How does the RecordsKeeper platform work? Let’s assume that someone named John wants to store some data to the RecordsKeeper. For that, he needs to hold the special utility token named XRK token. XRK token is the primary payment option of the RecordsKeeper platform, and it is not possible to upload data without the same.
- John acquires XRK tokens into the XRK wallet of the platform.
- Then, he needs to pay the upload fee for the total data which will be stored in the RecordsKeeper. For storing 1 KB of data, the fee is 0.1 XRK tokens.
- John uploads the data in the format of key-value pair. A maximum of 8 MB can be uploaded in a single transaction.
- Once the data is uploaded, the miner adds a new block to confirm the transaction.
- The miner will earn the reward in XRK tokens for confirming the transaction.
- The authenticity and integrity of the data can be easily verified by anyone using the transaction id or the key for the data.
That’s it. The data is stored successfully on the blockchain and cannot be altered/modified by means.
Read more at https://www.recordskeeper.co/ to learn more information about the platform.
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