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Today, people tend to view the world of blockchains as inhabited by two broad factions: One favors “permissionless” ledgers like Bitcoin, where anyone can join, while the other camp, backed by many in the business community, prefers a pre-approval, or “permissioned,” system. The two sides typically talk past each other and, frequently, regard the other with suspicion and resentment.
“It’s very divided,” says Amber Baldet, CEO and co-founder of Clovyr, a startup that’s creating a platform—not unlike Salesforce’s Heroku—for developers and businesses to build and manage decentralized apps across both public and enterprise blockchains. The former blockchain leader at JPMorgan Chase visited Fortune’s studios to discuss the intra-industry, ideological clash on the latest episode of Balancing The Ledger, a new show about the intersection of finance and technology.
(You can read more about Baldet in this month’s Fortune 500 issue of the magazine.) This controversy is rooted in whether one of the most prized qualities of Bitcoin—its wide decentralization among unnamed users—should be inherent to all blockchains. While corporations favor permissioned blockchains so they can control who they do business with, critics argue that the centralized nature of such a system undermines the original purpose of the technology.
In Baldet’s view, part of the problem is rooted in the terminology. “I really think that nomenclature just isn’t helpful,” Baldet says, referring to the commonplace partitioning of public versus enterprise blockchains. Read more from fortune.com…
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