Accenture to Unveil ‘Editable’ Blockchain Prototype
Global professional services and consulting giant Accenture has developed a prototype that will enable a central administrator to edit – even expunge – a record on a private blockchain. In an announcement today, Accenture said it has created “a prototype of a new capability” that will allow one or more designated administrators to edit, rewrite and remove blocks from a permissioned blockchain, without breaking the chain. Patent applications for the prototype’s invention have been filed in the United States and the European Union, by the firm and co-developer Giuseppe Ateniese, a professor....
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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....
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....
A financial innovation lab operated by management consulting firm Accenture has added a blockchain startup to its latest class. Accenture's 2016 FinTech Innovation Lab London, the company announced yesterday, will include 15 startups. Crowdaura, which uses blockchain technology as a mechanism for issuing securities via crowdfunding, is the sole blockchain startup to be included in the class. The selected startups will spend 12 weeks working with Accenture staff and executives from a variety of major financial institutions including Bank of America, Deutsche Bank, HSBC and Société Générale.....
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....