Abstract
Data privacy is the missing piece before Blockchain goes mainstream. Can this challenge have a real life solution?
Private blockchains were a safe environment for institutions to experiment with blockchain. However, they are very limited and isolated in nature, whereas public networks offer the prospect of a real internet of money.
Recent US legislation has paved the way for institutions to use public blockchains. The problem is that public blockchains are public, and mainstream individuals and businesses are unlikely to want their payments, payment details and investment positions to be publicly traceable.
This leaves a technological gap where public blockchains must enable selective data privacy while at the same time enabling independent validation of transaction integrity.
Adi Ben-Ari, the founder & CEO of Applied Blockchain, will talk us through this hot topic, demonstrating a real live application to solve the challenge.
https://www.appliedblockchain.com/
Private vs Public Blockchains
Public blockchains are decentralized, open-access networks like Bitcoin, prioritizing transparency and immutability but with slower speeds and higher costs. Private blockchains are permissioned, closed networks, often run by a single organization, offering higher transaction speeds, greater privacy, and more control over governance but sacrificing decentralization and transparency. The choice depends on whether a use case requires openness and censorship resistance (public) or control, privacy, and efficiency (private).
