In you’re thinking about business opportunities for blockchain technology, it’s useful to avoid getting over-excited about an idea that a traditional centralized database could do just as well. How do you parse which is which?
In building BigchainDB, we started with a traditional centralized database that had scale and built-in querying, and added blockchain characteristics. This forced us to think deeply about the characteristics, as benefits. We asked the following.
What specific benefits do blockchains bring compared to traditional databases? We found three.
- Decentralized / shared control,
- Immutability / audit trail, and
- Assets / exchanges.
Full post is [here].