Blockchain Myth Busting
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Blockchain definition in less than ten words
Trusted and efficient way of sharing data and transactions
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Does Blockchain use too much Energy?
No, We are talking about Enterprise Blockchain.
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Is Blockchain GDPR compliant?
Yes, The GDPR data is held on a database and a token used in the transaction on the Blockchain.
The General Data Protection Regulation (GDPR) in Europe, and Freedom of Information acts, have given more control to users, but these are still in the early stages, and the data is still very transparent.
Blockchain can help make data transparent which makes it easier for us to control and understand.
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Is Blockchain too slow?
No, There is no use case today that needs a TPS that is faster than today.
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Are there fees and cryptocurrency?
No, We do not use public Blockchains for enterprise and we can create our own tokens if required.
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Will Quantum Computing destroy Blockchains?
No idea – they have not even been invented and neither has Quantum Blockchain!
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Blockchain is solution looking for a problem
This is not correct for me, this could be correct however for projects that do not need Blockchain as the solution. We only work on projects where Blockchain will add value to the enterprise.
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Is Blockchain a Database?
No, Blockchain is a Distributed Ledger Technology