Accenture got a patent to its work on an “editable blockchain.”
Wait, what? I thought it can’t be modified
Well, that’s how bitcoin – the most famous-to-date blockchain – works. People create a series of “blocks” that record transactions forever. Everyone can see and no one can change a block once it’s created. Since 2016, Accenture works on an editable blockchain concept. Check!
No change is the whole point. Why edit?
Guys from Accenture think a few steps ahead here. They wrap their minds around “how to fix things when they go wrong”. The more non-experienced people will come to using blockchain, the more this question will pop.
And who will edit the blockchain?
A trusted administrator. Or a collective mind, like Yoken (jk!). Depends on the blockchain, in fact.
What can we learn from it?
- To reach maturity and get confidence, technology needs an option to correct mistakes
- Even the stupid-at-first-glance ideas (editable blockchain? seriously?) stands a chance in crypto
- “Edit” button can become a kind of safety net for banks resistant to step into into blockchain-based world