Note from the CEO: This is a great rebuttal against Accenture which has patented a new typw of blockchain that would allow select editing, which goes against the entire premise of blockchain itself. Brian Kelly points out that deviating from an immutable blockchain and allowing edits will compromise security. True, since who will get the “edit keys” and how will they be used? More access, more potential hacks. Good points, Brian.
“A once-in-a-generation opportunity to upgrade our defenses against financial fraud is under attack. The immutable ledger, at the heart of bitcoin and blockchain technology, prevents bad actors from changing the record.
Accenture has patented a new type of blockchain that allows pre-selected parties with access to the ledger to edit entries, claiming its prototype will be more attractive because it will allow information to be changed or deleted.
Bitcoin and its technological innovation – a blockchain – have been heralded as the cure for what ails our antiquated financial infrastructure. I believe that the immutability of a blockchain is a key feature and strength in the technology.
Allowing anyone to amend or delete information from the ledger threatens our ability to fight improprieties with the game changing blockchain technology.”