30 Sep '16, 12pm

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

Brian Kelly is an investor and financial markets commentator, founder and CEO of BKCM LLC and one of the founders of PAR, a blockchain-based hedge fund administration system. In this opinion piece, Kelly argues that making blockchains editable allows users to rewrite history, therefore opening up financial systems to the potential for fraud. A once-in-a-generation opportunity to upgrade our defenses against financial fraud is under attack. The immutable ledger, at the heart of bitcoin and blockchain technology, prevents bad actors from changing the record. Accenture has patented a new type of blockchain that allows anyone with access to the ledger to edit entries, claiming its prototype will be more attractive because it will allow information to be changed or deleted by a central administrator. Bitcoin and its technological innovation – a blockchain – have been heralded a...

Full article: http://www.coindesk.com/sorry-accenture-bitcoins-un-edita...

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