Permissioned Blockchain

First I would like to talk about some of the advantages and then I would like to talk about some of the disadvantages of permission blockchains so when I talk about its advantages then admission blockchain have ability to tailor the consensus mechanism according to the specific needs and requirements of the participants or users. In this way for giving more priority to the speed and security and for maintenance of balance between these two things depending upon their use consensus algorithm could be designed in best and anyway.

When I talk about governance and decision making in this type of blockchain then this blockchain is more flexible related these two things also. We all know that participants and users at this blockchain are trusted that's why they are able to establish their own rules and regulations according to their own choice and their own requirement and that's why it is very beneficial in industries where there are paramount about compliance and regulatory concerns.

Ability to leverage infrastructure and system of the blockchain which is existing and current is another one of the most important the benefit of this type of blockchain that we can consider so users can integrate their database is and applications which are existing with the blockchain network in this way and in this way it allows for exchange of data in one of the most easy way.

When I talk about uses of permission blockchains and its applications then in terms of its use there are different uses it has in different industries also so if I given example then you can say that in supply chain management there is a permissioned blockchain which provide transparency which permits for users to track movements of their goods and in this way they also become able to verify authenticity and originally of the goods.

There are different Financial institutions also who are also in search of permissioned blockchains for applications like cross border payment and trade finance so Financial institutions are in search of permissioned blockchains because these type of blockchains have more secure and private features and these are more suitable for handling the financial data which is sensitive with maintaining the regulatory compliance.

Permissioned blockchains are also very suitable in healthcare industries because these are able to store and share patient data in a suitable way and in this way becomes important for the enhancement of the privacy of patient and helps in making the processes of health insurance and medical research more streamline and helpful so I think this is one of the most great thing which should also be considered by us when we talk about benefits of this type of blockchain.