Coinkite CEO Heavily Criticizes Editable Blockchain by Accenture
Coinkite co-founder and CEO Rodolfo Novak heavily criticized the multi-billion dollar research firm Accenture’s newly designed Blockchain concept “Editable Blockchain,” by questioning the cryptographic basis and mathematical fundamentals of the invention. Earlier this week Accenture patented a technology the company calls an “editable Blockchain,” which enables enterprise-grade platforms and banks to create private Blockchains which grant access to central administrators for regulation purposes. An administrator of the Accenture editable Blockchain network would essentially have the....
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Global professional services group Accenture has announced a prototype that they call an “editable blockchain.” The firm says the concept addresses immutability concerns and the right to be forgotten laws. Accenture Editable Blockchains Preferred By Banks. Last week, an executive from Accenture described Bitcoin’s immutability as a weakness. Now, the....
The Chamber of Digital Commerce gets three more high-profile member companies in the form of Accenture, CME Group, and TMX Group. The use of blockchain technology across various industry segments can’t be contested. The shared interest among companies to explore the use of cryptocurrency technology has led to the creation of the Chamber of Digital Commerce. It is currently the leading blockchain trade association which just became bigger following the inclusion of Accenture as one of the members. Other companies that gained entry into the Chamber of Digital Commerce alongside Accenture....
As Accenture files a patent prototype that would allow changes to be made to the blockchain in ‘exceptional circumstances’ the consultancy firm has come under criticism. Earlier this month, Richard Lumb, global head of financial services at consultancy firm Accenture, wrote a column in the New York Times discussing the immutable ledger of transactions through the blockchain. According to Lumb, while the permanence of the blockchain has been vital in building trust among the people who use it, its usefulness can be limited in financial services. Lumb adds that the blockchain technology....
A once-in-a-generation opportunity to upgrade our defenses against financial fraud is under attack. The immutable ledger, at the heart of bitcoin and blockchain technology, prevents bad actors from changing the record. Accenture has patented a new type of blockchain that allows pre-selected parties with access to the ledger to edit entries, claiming its prototype will be more attractive because it will allow information to be changed or deleted. Bitcoin and its technological innovation – a blockchain – have been heralded as the cure for what ails our antiquated financial infrastructure. I....
CCN just interviewed the first company to market a Bitcoin point of sale (POS) system, Coinkite. Coinkite offers merchants the ability to accept Bitcoin through Coinkite terminals, as well as their own API (Application Programming Interface), which allows merchants to build robust check out systems for everything from online shopping carts to pizza restaurants. For shoppers, Coinkite offers their own Bitcoin debit card. You might remember Coinkite and how easy it is to use, from one of our stories back in January this year. Coinkite has recently revealed an Onion for Tor, as yet another....