> Consensus in a blockchain for business is not achieved through mining but through a process called “selective endorsement.” It is about being able to control exactly who verifies transactions, much in the same way that business happens today. [...] This is different from Bitcoin, where the whole network has to work to verify transactions.
> Bitcoin thrives due to anonymity. [...] On the other hand, businesses have KYC (know your customer) and AML (anti-money laundering) compliance requirements that require them to know exactly who they are dealing with. Participants in business networks require the polar opposite of anonymity: privacy.
So I actually think this is not such a bad idea. I mean, it allows IBM to take all the money from people who want to buy blockchain, but does not produce negative effects, like energy waste. Sure, I would call it "distributed event sourcing database", but if it has to be renamed for marketing reasons, this is OK too.
https://www.ibm.com/blogs/blockchain/2017/05/the-difference-...
> Consensus in a blockchain for business is not achieved through mining but through a process called “selective endorsement.” It is about being able to control exactly who verifies transactions, much in the same way that business happens today. [...] This is different from Bitcoin, where the whole network has to work to verify transactions.
> Bitcoin thrives due to anonymity. [...] On the other hand, businesses have KYC (know your customer) and AML (anti-money laundering) compliance requirements that require them to know exactly who they are dealing with. Participants in business networks require the polar opposite of anonymity: privacy.
So I actually think this is not such a bad idea. I mean, it allows IBM to take all the money from people who want to buy blockchain, but does not produce negative effects, like energy waste. Sure, I would call it "distributed event sourcing database", but if it has to be renamed for marketing reasons, this is OK too.