Blockchain, a Facilitator of Compliance… and Accountability?
- YBamping
- Mar 31, 2021
- 1 min read
One of the core benefits of Blockchain technology is immutability, which creates an environment of transparence and trustworthiness. In other words, as soon as a data is stored in the chain, it cannot be changed or deleted, which provides stakeholders with traceability. Thus, Blockchain’s immutability can be utilized to keep track of all the steps that are required to reach a certain outcome, such as a transaction or even a piece of regulation, ultimately providing any party involved with an indisputable audit trail.
At first sight, Blockchain seems to be a great tool for compliance. Is that so? And can we say the same for accountability?
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