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Private Blockchains for businesses

Use cases

  • A blockchain run by a Consortium of institutions is considered as a private blockchain, where each party or institution doesn’t entirely trust each other
  • Health care and insurance industry
  • Consortiums of organizations and Identity management

Use cases

  • A blockchain run by a Consortium of institutions is considered as a private blockchain, where each party or institution doesn’t entirely trust each other
  • Health care and insurance industry
  • Consortiums of organizations and Identity management

What is Blockchain Technology

  • Made up by computing “nodes”
  • Incorruptible digital ledger of transactions shared by participant nodes
  • Stores information in a distributed and decentralized way
  • It provides immutable record keeping

Blockchain Security and Privacy

  • There are no centralized points of vulnerability
  • Data is not being held centrally
  • Every participant user has a key-pair , a private and a public key, that defines its identity
  • User to user transaction become possible, without the intervention of a central

Public blockchains

  • There are currently many public blockchains that support crypto-currencies like Bitcoin or Ethereum
  • The information stored in the blockchain can neither be erased or changed
  • Legal documents and certificates

Network of computing nodes

  • Every blockchain consists of computing nodes that jointly manage a decentralized database of transactions
  • Every node connected to the blockchain network validates and relays transactions

Benefits of running
a private blockchain

  • “Private” blockchain doesn’t mean exclusively internal to an organization, or completely isolated from the public
  • The participating companies or organizations provide own validating computing nodes
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