Proprietary Blockchains

Note from the CEO: Ah, proprietary, my favorite word (or one of them) which means “mine mine mine mine”. It also allows you to not have to explain things to others by just saying “its proprietary”. Because of that “mine mine atitude” it will make collaborationwith other blockchain applications rather difficult, if not impossible. Get those Non-Disclosures and Non-Competes on your desktop quickly.

“….Efforts such as the R3 Consortium are bringing together the world’s major banks to figure out use cases for (blockchain) technology as we speak. In most cases, the financial sector seems to be the most prone the blockchain disruption in the coming years. Many financial processes can be streamlined, and there seems to be a smaller demand for human involvement in specific tasks.

…..The Hyperledger Project is focusing on using the blockchain for more technological reasons. It is not entirely surprising considering this project is backed by IBM, among other players. While some of the proofs of concept are also focusing on the trading and financial sector, for now, Hyperledger is a more hands-on approach to developing distributed ledger technology.

On top of that, there are multiple other blockchain projects. Individual concepts require usage of a proprietary blockchain, which may be private or permissionless. The former solution seems to be the preferred method of choice right now, as involved parties want to retain a sense of control over this technology.

All of these separate blockchain initiatives will hinder collaboration, though…..

Read Full Article at BTCManager