• the oldcommguy

Why a forensically auditable trail of transaction data is critical for the cloud. Try BlockChain!


By now everyone has heard of blockchain, and hopefully you have even been lucky enough to come across some of the more innovative blockchain nuances, such as a blockchain for the production of organic bananas.

Diving a bit deeper, blockchain is a protocol used to guarantee the exchange of valuable information and data, such as that used in a financial transaction. Similar to how TCP as a network protocol uses mechanisms such as handshaking and acknowledgments to guarantee delivery of network packet information, blockchain uses mechanisms such as data hash matching and distributed ledgers to guarantee delivery. 


Another very important value of blockchain is not just the process and mechanisms used to deliver high value data, but the ability to provide a forensically auditable trail of the transaction that attests and verifies that the exchange of high value information took place. Blockchain can serve as an open, distributed ledger that can record transactions between two parties in a verifiable and permanent manner. It can be used as a source of verification for reported transactions. So, instead of asking clients for bank statements or sending confirmation requests to third parties, auditors can easily verify the transactions on publicly available blockchain ledgers such as http://www.blockchain.info or http://www.blockexplorer.com.


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Author - Michael Rezek - In his role as VP Business Development and Cybersecurity Strategy at Accedian, Michael leverages sales, strategy, and engineering experience to direct business case development involving multidisciplinary teams to translate technology and innovation into commercial enterprise value including M&A. His areas of expertise include Layer 2-7 network technologies; cybersecurity; and performance management. Michael holds a Bachelor’s degree in electrical engineering from Youngstown State University, and a Master’s degree in electrical engineering from the Georgia Institute of Technology. He is a former professionally-licensed engineer in multiple states, and is a published author of the Cisco Press book, "Building Multiservice Transport Networks."

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