Public blockchains like Bitcoin and Ethereum continue to have an exaggerated influence on the overall perception of blockchain technology. As a consequence, trustlessness is often presented as the central characteristic of blockchain: It is claimed that blockchain designers must assume that users do not trust each other and that there is no trusted third party. While this is arguably true for public blockchains, it is not a helpful perspective for private blockchains. Private blockchains can be highly efficient and effective when they act as a team player, operating alongside legal contracts, trust relationships, regulatory frameworks and trusted third parties.
Keywords: Blockchain; Enterprise Architecture
Strehle, E. (2020). Public Versus Private Blockchains. BRL Working Paper No. 14.