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From my understanding of blockchain, I feel the main use of blockchain is to do something in a decentralised way as compared to the traditional centralised way which involves a middle man. Usually, the centralised way is a much simpler way, but use of a more complicated way (blockchain) becomes justified because you are able to decentralise.it.

However, I see a lot of companies which are currently the central party trying to get into Blockchains. For e.g. banks etc. I am not sure what advantage there is here.

For example, take a look at this - ironmountain.com - What-is-blockchain-and-why-should-records-management-professionals-care

In my opinion, regular PKI is best suited for this. A user signs his document with his private key & then submits it to Iron Mountain. This will ensure integrity. So what advantage is it to either Iron Mountain or the user if Blockchain is adopted in this case.

It also seems as if Blockchain is getting forced into places where it's not necessarily the best solution.

Or am I wrong?

  • I agree exactly with what your saying but ironmountain would disagree. It would be an opinion piece really. – Ian Purton Jan 11 '17 at 15:36
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    Possible duplicate of Non bitcoin like blockchains – UTF-8 Jan 13 '17 at 21:15
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I think there are few other advantages with using blockchain such as improved peer-to-peer sharing with audit trail and no single point for cyberattack.

In saying that Iron mountain would no longer be the central point of access or holding of document and would provide the interface to accessing their documents.

Base on my limited knowledge, I won't claim to be an expert and looking for anyone with more knowledge to explain.

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