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Record keeping is the system of creating and maintaining records of transactions or activities of an organizing.

In business field; keeping records of transactions helps to protect a business, measure performance and maximize profits. Records created specifies transaction dates and amounts, legal agreements, and private customer and business details.

Use of blockchain for record keeping

Blockchain technology is a solution to creating and preserving trustworthy digital records, presenting some of the limitations, risks and opportunities of the approach. A blockchain is a chain of blocks that contain series of informations. This block is a record book or files where data is permanently recorded. Once a record is stored in a block, it cannot be altered or removed. Hence, blockchain is an incorruptible digital ledger of economic transactions without a central authority. The information in a blockchain is completely open for everyone.

These are the basic areas we can use blockchain for keeping records of transactions:

• Health: blockchain is very important for storing the health and medical history of patients.

First, Patients can have control over their data and take notice of the changes that might be made since it is visible to all members of the patient network.  

Any unauthorized modifications can be trivially detected. Hence, agreement can be reached without the involvement of a trusted mediator.

• Title records: Blockchain technology will certainly eliminates most fraud that exists with title records and increase trust. blockchain prevents unnecessary information from disrupting the chain. Also, it makes alteration of records more easily detectable and avoidable. 
• Ownership: blockchain can remove the need of a trusted third party like the government agency, for keeping track of ownership information as a decentralized database. It stores transactions in the ledger in a permanent and verifiable way. Based on blockchain, property ownership recording system enhances security, efficiency, and speed to a wide range of services and processes. Blockchain in ownership recording system allows only the participating parties to share accessible, transparent, and trusted information.
• Voting: blockchains doesn’t face most of the challenges political elections have. Blockchain makes voting highly transparent. This eliminates election rigging and reduce fraud to bring true democracy. Therefore, it could be possible to track your vote and see that it counts in the right place. With blockchain, everyone can count the votes, and they can verify that no votes were changed or removed, and no illegitimate votes were added.
• Intellectual property: implementation of a decentralized registration system, could allow for fast and accurate verification of a person or company’s right to a given piece of intellectual property reducing excessive wait times for patents and trademarks that businesses would find themselves more able to innovate quickly.