That’s a great idea, Bob! We might even spring for a video camera and Bill’s Own digital camera, expecting to be paid back out of profits!
You as parent will want to assure yourself that proper security precautions are in place.
Always know where your child is, and maintain close communications.
Be sure to safeguard any received information from potential harm in your own care, including loss of privileged information to possible neighborhood thieves.
Et cetera.
In principle, it is the same kind of service as a safe-deposit box, except for the personal service angle.
You would want to physically protect the records, and have multiple backups in separated locations.