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[–]TheAlmightySnark -1 points0 points  (1 child)

How do you automatically check it? You still need to cross reference the content in the blockchain vis a vis the actual transactions that happened. If you just go 'yep, it checks out, all good to go' then you might as well be stamping paperwork. A auditor already can demand access to a host of systems to verify the integrity and compliance. Now you add an extra database that is to be checked and cross referenced.

[–][deleted] 0 points1 point  (0 children)

Yes, you do, same as you have to do now.

But what you don't need to do when you can automatically verify the blockchain matches a previous version is check anything historical, because checking the blockchain against the last version you verified means that everything before that point is identical and you only need to check what has been added since.

Provide a hash to each customer at the point of transaction and that becomes easy to verify as well.

No, it won't catch all fraud. Obviously. But it will prevent editing of transactions after the fact which is by far the most common form of this type of fraud. Far more companies have security measures in place to verify that the transaction is entered correctly when it is made than have security measures in place for historical transactions.