Sorry Accenture, Bitcoin’s Un-Editable Blockchain is a Feature Not a Flaw

Btchain

Brian Kelly is an financier and financial markets commentator, founder and CEO of BKCM LLC and one of a founders of PAR, a blockchain-based hedge account administration system.

In this opinion piece, Kelly argues that creation blockchains editable allows users to rewrite history, therefore opening adult financial systems to a intensity for fraud.

Fraud

A once-in-a-generation event to ascent a defenses opposite financial rascal is underneath attack. The permanent ledger, during a heart of bitcoin and blockchain technology, prevents bad actors from changing a record.

Accenture has law a new form of blockchain that allows anyone with entrance to a bill to revise entries, claiming a antecedent will be some-more appealing since it will concede information to be altered or deleted by a executive administrator.

Bitcoin and a technological creation – a blockchain – have been heralded as a heal for what ails a superannuated financial infrastructure. we trust that a immutability of a blockchain is a pivotal underline and strength in a technology.

Allowing anyone to rectify or undo information from a bill threatens a ability to quarrel improprieties with a diversion changing blockchain technology.

The significance of permanence

Since 2009, there have been some-more than 155 million bitcoin transactions. Every singular one is


Read more ... source:

Advertise on the Bitcoin News

Bitcoin Watch Shop