Downside of Bitcoin: A Ledger That Can’t Be Corrected
ByThere has been much discussion about the potential of blockchain, the technology underlying virtual currencies like Bitcoin, to change the world. We have heard waves of inspired commentary on how the technology, with its ability to share information and record transactions, will be as revolutionary as the internet itself. At Accenture, we agree about these huge possibilities, but there is an elephant in the room that will need to be confronted.
One of the accepted virtues of blockchain is that it creates a permanent, immutable ledger of transactions. For example, each of the roughly 160 million Bitcoin transactions that have occurred since the cryptocurrency began in 2009 will stay on that ledger as long as Bitcoin exists…
Downside of Bitcoin: A Ledger That Can’t Be Corrected
