Private Blockchains are on the Rise in 2023

Contrary to popular perception, blockchains can also be designed to work within constrained parameters. While this goes against the foundational concept of Bitcoin – a complete absence of intermediaries or influencing factors and total democracy – blockchain technology has evolved. This means that organizations are free to create their own blockchains and govern how they want them to function.

Much like traditional finance, these “private” blockchains are governed by designated decision-makers. This extent of access to the governance of a blockchain determines whether a blockchain is private or public.

https://www.linkedin.com/pulse/private-blockchains-rise-2023-ian-scarffe