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September 24, 2016 06:00 pm

Accenture Patents a Blockchain-Editing Tool

A blockchain "produces a permanent ledger of transactions with which no one can tamper," reports TechWeekEurope. "Until now." Slashdot reader Mickeycaskill quotes their report:One of the core principles of Blockchain technology has potentially been undermined by the creation of an editing tool. The company responsible however, Accenture, says edits would only be carried out "under extraordinary circumstances to resolve human errors, accommodate legal and regulatory requirements, and address mischief and other issues, while preserving key cryptographic features..." Accenture's move to create an editing system will no doubt be viewed by some technology observers as a betrayal of what blockchain technology is all about. But the company insisted it is needed, especially in the financial services industry... "The prototype represents a significant breakthrough for enterprise uses of blockchain technology particularly in banking, insurance and capital markets," said Accenture. They're envisioning "permissioned" blockchain systems, "managed by designated administrators under agreed governance rules," while acknowledging that cyptocurrency remains a different environment where "immutable" record-keeping would still be essential.

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