What Blockchain is’not
Blockchain technology is relatively new and will still take time to mature so we must be careful not to fall into the trap of thinking Blockchain can revolutionise every type
of IT system and every type of organisational challenge. As discussed above the hype curve suggests there will be failures in the near term. Indeed the difference between
using a Public Blockchain architecture and a private one is now becoming clear with some challenges arising in the cryptography used for public consensus. We would
advocate a private architecture for the time being. We discuss our reasons for this below.
We can summarise that Blockchain is not:
- The silver bullet to resolve organisational issues;
- Suited to every business use case; and
- Fully scalable e.g. it is not yet capable of handling high frequency of updates.