The holy grail for many financial, banking and legal institutions in the US is affordable storage that meets compliance for their records storage.
Many regulators require WORM (write once, read many) compliant storage standards for auditing purposes.
Time stamps of documents are also generally required (created, check in, check out, etc).
Would it be possible to either fork a version of the network that would be capable of these features or allow this as some sort of third party application on the network?
The money these companies would (and currently do) pay for this tech is breathtaking and I think having institutional level adoption of a protocol like this would go a long way to a positive public perception.
I know the blockchain is currently being worked on privately to meet some of these needs, along with financial transaction clearing and settlement, and I think/hope SAFE can do it better!!!
This is the default data type in SAFE (Immutable Data) which is not only WORM but self validating. Take this with a datamap and then you have a single hash that represents the datamap. This can easily be applied to a standard blockchain for an auditable ledger of data of any type, not only transactions. So there you would have a complete solution with immutability of data and also of the ledger.
This solves some of the issues where folk talk of blockchain bloat etc. If this is combined with a BTC ledger (the blockchain) then you have a full solution that can be audited.
There is much more but yes this is all possible to mix the paradigms like this.
Add to that the benefits of dispersed data storage for business continuity and lower data center costs and that seems like an epic win!!!
Every day my brain gets a little better grasp on just how much potential the project has!!!
Its not just an ah-ha! moment…its a constant state of awe!! Soo excited to see how this all comes together!
A little more then to whet you appetite. We have directory listings. So imagine a datamap of your root directory (each directory is a file in essence anyway). So we can easily see a datamap can be a directory, or a file with pointers to other files and directories. Just as a real directory is on your computer.
So we also have this never delete immutable data (the fun begins). Some people think never deleting this is a huge issue, but farmers will handle it and be paid for doing so, never the less that is another discussion.
We have then all these immutable chunks that do not delete and some are datamaps (or directory listings).
So if you take a huge drive of several terrabytes / exabytes etc. and take the hash of the root dir, then any change in the whole exabyte drive is recorded. So an organisations data at any time can be recalled. Fully backed up securely and auditable data, regardless of size.
Then take a persons own data or computer, if we live on SAFE i.e. all our data is held there than not only do you never lose data, but you have a trace of every single change you make, if you want. (there are a few issues we must solve there, like locks etc. but you can see the pattern easily enough).
This is a glimpse really of what is possible, there is a lot more we can do as soon as we get to beta. It could be pretty big so it could, this stuff For now though individual files etc. are very simple to maintain in an auditable fashion.
I hope the smart money sees what the team has actually done here!!!
Amazing!!! And I was pumped for all those cat videos lasting forever!!!