Editable blockchain? At least, not edible

What happened?

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

Related Articles