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October 16, 2018

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Why Shift From a Public to a Private Blockchain?

February 25, 2019


Ethereum’s speed has not improved since the CryptoKitties debacle, at least not enough to support a reliance on its’ main chain for the long-term. Though not everyone seems to agree with this idea, it does appear to have achieved consensus amongst the Ethereum developers themselves and companies which are delving into hosting security-token offerings like Templum.


Through a report from CoinDesk today, it came to light that a company called Symbiont is working on a new framework for hosting Security Token Offerings that will allow Templum to move away from the Ethereum network altogether. If you are questioning how this is possible, it all begins with the perceived need for the centralization of blockchain networks that work with security tokens.


Yes, you heard that right. Templum is planning to shift to an entirely private blockchain with its’ own smart-contract system to run STOs in a way that they think will be more likely to be accepted by regulators. On the surface, it is easy to see why an regulatory agency would prefer a centralized blockchain platform over one that is decentralized.


In short, one is easy to monitor, while the other is not. For another example of this, just look at Coinbase’s most recent acquisition of Neutrino, which it publicly suggested will help it to be more compliant. In Templum’s case, they are aiming for the same result and have even specified the goal of  all transactions on their future platform being easily identifiable. 


From this, it can easily be inferred that they aim to identify all participants on their platform at all times. Therefore, the central question to ask then becomes: are security tokens the future of cryptocurrencies or merely just a temporary solution for legacy financial institutions?  Whatever the answer turns out to be over time, one thing is clear.


The average crypto investor is not interested in being identified at all times. One of the central tenets of Bitcoin was to put the ownership of money in the hands of individual and therefore, take away barriers like extensive know-your-customer requirements that stand in the way.




By: BGN Editorial Staff

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