RE: Private Blockchain - An Oxymoron?
That's why most of them are absolutely clueless when asked about the future of 'Private Blockchains'. Somehow it feels contradictory. How can a private enterprise take control of something that is open-source, community-based and decentralized by definition? How can consortiums be formed to look into corporate solutions? How can governments try to take charge of the innovation?
These are all wrong and stupid questions. Private blockchains are not anything new. They are around for years. One of most known platforms for building private blockchains is MultiChain.
How can a private enterprise take control of something that is open-source, community-based and decentralized by definition?
Whatever is open-sourced and community driven, it can be closed-sourced and corporate ran. And a technology can be internally decentralized inside a company. For which reason Microsoft couldn't fork bitcoin and use it for their own internal purpose inside the company?
How can consortiums be formed to look into corporate solutions?
Also stupid question. Did you ever hear about Hyperledger? It's a umbrella project of open source blockchains and related tools. It is also around for years now. You know who's behind it? It's a consortium with big players like Intel, IBM and SAP. Some of Hyperledger technologies can be used for private blockchains.
How can governments try to take charge of the innovation?
Not all governments are corrupt and run by incompetent mediocres. For example, do you know how Norwegian government impacts big corporations to change their policies for greater good. By investing in shares of Apple, Microsoft, Tesla Motors and other tech companies Norway affects their polices and contributes to innovations.
You bring up some great points. Your explanations are on point. But I think you missed the essence of the post
We are simply highlighting the fact that people who hear of blockchain and DLT hear about it as a new revolutionary piece of tech that will help power finally exchange hands of the institutions to the individuals. This is the most widespread misconception.
If you look around the world, more and more companies are adopting DLT to improve their costs and efficiencies. They want to be the beneficiaries of this technology and pass on a small amount of the benefit to the end user. This is the case for any piece of tech.
Instead of ranting about how this and that are stupid questions and viewing everything from a pseudo elitist perspective, please understand these are questions we have witnessed (first-hand) newcomers stumble all over and get confused over.
Nevertheless, your feedback is greatly appreciated!
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There is nothing "pseudo elitistic" in stating simple facts. Other side of this story is that some people are not able to understand what blockchain is and what is difference between blockchain and cryptocurrency. That's why now we have our grandmas, aunts and local butchers trading bitcoins.
You wrote a post about years old topic. Yes you will still find some people not understand it and not able to comprehend this topic. But instead of stating these irrelevant question it would be more beneficial for all of us that you explained what private blockchain is and what are the use cases. And how decentralization can still exists in corporate and government environments.