There are many layers of the Internet that security, privacy, and data integrity are concerns. There are the approaches we build to transporting bits that reduce packet loss and packet corruption, there are the resend capabilities of TCP, and there is, of course, the application layer itself.
The events of the last decade have shaken our confidence in the efficacy of information, the role of state and non-state actors, and our overall trust. There have been protests, government hearings, and more. As the world looks to a new era of Internet trust, there are many approaches and technologies competing for a place in that conversation. One of those technologies is blockchain, which is no longer a new technology, and one that many readers are likely already familiar with.
On the Internet, as in business and life, some things fit a role well, and some things do not. So asking whether something is bad or good, is often missing the point. What something is good for, is a better question, even if that still may miss potential. In the case of Blockchain, clearly it is a technology that has gained mindshare for recording immutable data, like transactions, where the data does not change, there is the elimination of a central controlling entity, good confidentiality, and good protection against fraud and tampering. While blockchain is being considered for many roles, cryptocurrency is to date, its most famous use case. The immutable transactional nature of financial records being a good match for the qualities of Blockchain. Not all things done on the Internet are a good fit for Blockchain and that is a discussion I may return to in the future.
This is a social conversation with a large scope, but it is a conversation that is growing and likely will not be deafened. Below are some of the pros/cons of Blockchain from the research I have done. Your mileage may vary…
See table below and .pdf at this link