Dear All, I have written an article recently (soon to be published in the
Records Management Journal) that presents a detailed analysis of the use
of blockchain technology for record keeping in land administration, taking
as a particular example the proposed Factom solution for Honduras. In the
article I also discuss the risks and what I believe to be the appropriate
use cases for application of blockchain to date. I donıt believe that
attachments will come through in these emails, but if you are interested
in reading the article, write to me and I will send it to you.
I have also received research funding from the Social Sciences and
Humanities Research Council of Canada to write a report on the use of
Blockchain technology for record keeping (description of the project
below), and would welcome your questions, views, pointers to resources,
and other information as I gather data for this report.
In addition, the InterPARES Trust project, in which I am a
co-investigator, based at the University of British Columbia has convened
an international group of experts on archival science, records management,
digital signatures and cryptography, time stamping technology, and
blockchain technology to investigate the use of Blockchain further. The
group will be presenting on some of its work at the upcoming International
Council on Archives Congress in Seoul, South Korea. More information
about this project can be found on the InterPARES Trust website here:
https://interparestrust.org.
Finally, the State of Vermont has released a report assessing the
application of Blockchain technology for land administration:
http://legislature.vermont.gov/assets/Legislative-Reports/blockchain-techno
logy-report-final.pdf.
You will note that the person writing the article in Donıs message is a
global brand manager. My observation is that this technology is being
heavily marketed as ³a brand², with much hype and hyperbole. I believe it
is extremely important, therefore, that records managers be armed with the
facts about this technology - its appropriate use and any risks. This is
an ongoing area of research, but some of this information can be found in
my article.
Best wishes,
Victoria Lemieux
Associate Professor
Archival Science
The University of British Columbia
Blockchain Technology for Recordkeeping: Help or Hype?
In November 2013, Bitcoin reached a tipping point when its value soared to
$900 and Federal Reserve Chairman Ben Bernanke told US Senators that
virtual currencies ³may hold long-term promise² if continued innovations
resulted in a "faster, more secure and more efficient payment system"
(Fortune 2013). According to Canadaıs Senate Committee on Banking, Trade
and Commerce, however, ³the real innovation is [the] blockchain
technology² underlying Bitcoin. Blockchain technology uses decentralized
networks of computers to securely publish anonymous yet verified
transactions to a public ledger, deploying cryptographic hashes that
validate and record the history of each interaction. As a result,
blockchain technology has the potential to allow individuals to control
their online identity and to support new services, including banking for
the disenfranchised in the developing and developed world (Senate Canada
2015).
With the shift to digital commerce and networked communication, "most
financial assets today exist as purely digital records" (Bank of England
2014). While blockchain can provide assurances that a transaction has
taken place, the technology presents risks as well as opportunities. From
a legal perspective, Bitcoin risks are known to include money laundering,
terrorist financing, and tax evasion (Senate Canada 2015); from a
recordkeeping perspective, blockchain risks cluster around organizational
control, record reliability and authenticity, long-term digital
preservation, and monetization. To begin addressing these challenges,
this knowledge synthesis will investigate writings in a variety of media,
such as social media, technological magazines and newsletters, legal
journals, government reports and peer reviewed journals showing the
potential impact of blockchain technology for use in recordkeeping.
On 2016-04-29, 9:00 AM, "Records Management Program on behalf of Donald
Lueders" <[log in to unmask] on behalf of [log in to unmask]> wrote:
>Listserv Members,
>
> Here's an article worth reading: http://bit.ly/1UVDAhA
>
> To be clear, it is NOT specifically about records management - it is
>about Blockchain technology. But many people believe Blockchain will play
>a significant role in the next generation of information lifecycle
>management solutions and it's probably something every records management
>professional should at least be aware of.
>
> Oh, and admittedly, A LOT of this article is hyperbole. Likely the
>author trying to get attention amongst all the noise scattered across the
>Net. But still, there's a great deal of truth to what he's saying, as
>well. Worth checking out...
>
> Kind regards,
> Don
>
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