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Do you need a Blockchain

June 7, 2018 744 0 Blockchain

Do you need a Blockchain

Bitcoin and its blockchain have allowed mutually mistrusting entities to perform financial payments without relying on a central trusted third party while offering a transparent and integrity protected data storage [1]. Due to these properties, blockchain as a technology has gained much attention beyond the purpose of financial transactions – distributed cloud storage, smart prop- erty, Internet of Things, supply chain management, healthcare, ownership and royalty distribution, and decentralized autonomous organizations just to name a few. Contrary to Bitcoin’s permission- less blockchain, where any writer and reader can join at any time, so-called permissioned blockchains have been proposed, where only an authorized set of entities is allowed to write and read the respective blockchain. A permissioned blockchain, however, shares similarities with a centralized database, and this naturally brings up the question whether a blockchain is better suited than a centralized database


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