Accenture breaks blockchain taboo with editing system

The original blockchain underpinning digital currency bitcoin is kept secure by data being shared across a global network of computers, which are incentivized by competing to win new bitcoins in a system know as “mining”. But while there have been worries about its irreversibility, some technologists argue that it is a feature that makes blockchain unique and that without it, the term becomes meaningless.

“An editable blockchain is just a database. The whole thing about blockchain is that it’s immutable, so this just defeats the object.”” Gary Nuttall, founder of blockchain consultancy Dislytics, told Reuters at a blockchain conference.

Source: Accenture breaks blockchain taboo with editing system | Reuters

Accenture Debuts Prototype of ‘Editable’ Blockchain for Enterprise and Permissioned Systems (Press Release)

Accenture has created a prototype of a new capability that enables blockchain technology to be edited under extraordinary circumstances to resolve human errors, accommodate legal and regulatory requirements, and address mischief and other issues, while preserving key cryptographic features. The prototype represents a significant breakthrough for enterprise uses of blockchain technology particularly in banking, insurance and capital markets.

The invention is designed for “permissioned” blockchain systems, which are managed by designated administrators under agreed governance rules. The invention is not designed for “permissionless” systems, like the cryptocurrency system supporting Bitcoin, which is open and decentralized and where the absence of a single governing authority makes absolutely permanent, or “immutable,” recordkeeping vital.

Source: Accenture Debuts Prototype of ‘Editable’ Blockchain for Enterprise and Permissioned Systems | Business Wire

Digital Asset in Blockchain Tie-ups with Accenture, PwC, Broadridge

Digital Asset Holdings LLC, a start-up specializing in the blockchain technology for the financial services industry, announced on Wednesday that it has entered into business relationships with Accenture, Broadridge and PricewaterhouseCoopers to ensure faster adoption of its product.

“These alliances will accelerate innovation, drive growth and broaden our reach in different segments across the world,” said Blythe Masters, chief executive officer at Digital Asset holdings and a former JP Morgan investment banker.

The partnerships show how the financial services industry is exploring the potential of the blockchain. In 2015, there was an explosion of interest in the bitcoin technology as a way to solve inefficiencies in financial markets. 

Source: Reuters