Why would you need Private Blockchain? - Sinha Santos, Founder OiX.Global

The public blockchain has, in many cases by design, the following challenges to enterprise adoption, particularly those industries that are highly regulated:

  • No privacy
  • Anonymous processors
  • Little to no governance
  • Limited throughput with slow transaction confirmation (performance challenge)
    In short, there are essentially two aspects to privacy itself: read permission and block generation (or write) permission. If the use case requires privacy, you will want to restrict read permission. If the use case requires trust spread across a limited and predetermined set of participants, you will want to restrict write permission. Both aspects individually or collectively may push you to a private (or consortium) blockchain platform.
    The following is a more complete collection of use cases:
  • A permissioned interfinancial institution settlement layer for digital assets (currencies and securities)
  • An intracompany ledger (balance sheet) containing private data without any single
    department being in authoritative control
  • A permissioned platform for the issuance and maintenance of rewards, loyalty points, and gift cards
  • A tracking tool for private equity, debt, and other liquid agreements
  • Database management, auditing, etc., internal to a single company
  • Any use case that requires incredibly high numbers of transactions per second
  • Any government related deployment

I will be writing more on the topic so stay tuned to the blog...

Why would you need Private Blockchain? - Sinha Santos, Founder OiX.Global
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