For a project that started life as a privacy project, you would think it is safe to assume our Enterprise Architect would be a staunch Privacy advocate; He’s not, a Confidentiality Advocate, you bet! however, Privacy is a dangerous aspect of a distributed network to society, case and point Tor Hidden services (not all, but some) & pseudo-anonymity is not privacy.
I can hear what you’re thinking; Here we go, Snider is being picky with words again but wait, hear me out.
Everyone says Private without understanding the clandestine implication of the word when used in a Networking/Financial setting & entire projects market on the attribute of Privacy, while partly correct in “feelings” in reality, its a miss used marketing term that’s had dangerous effects on the public perception of Enterprise grade technology; for a quick explainer on the important difference between Privacy and Confidentiality read our post Cryptonote – Confidential DLT
A Confidential Blockchain sure feels private though, doesn’t it?
See with most blockchains that have Private data, they actually mean Confidential data, and users act in Private using Confidentiality, confused? you are not alone, but fear not, this is why Lethean are an expert in this field.
Welcome to the grey area of confusion, where one side is the land of milk and honey and the other is full of snappy angry alligators; For any company or organisation attempting to play in the distributed ledger industry it’s important to find a partner that understands the Technical aspects of the minefield that is Blockchain; Lethean is very clearly able to differentiate and hopefully, explain and guide to you and your staff, failing that, prepare to get confused in wordplay.
In traditional business when dealing with suppliers, staff or customers & in your home lives think for a moment about the situations where Private interactions or withheld information have ended badly, I bet it doesn’t conjure up happy thoughts, does it?
Sorry for that, back to happy land, have a picture of a stray cat I snuck some food to (not a stock image).
Business and interpersonal relationships require honesty, from “yes this wall I built you is to regulations” or “yes I took the kids to school on time” this information one could call, Confidential, you won’t go telling everyone you got the kids there on time, but you will let your wife know, this is Confidential information, for the Family; this example applies to business dealings equally.
Blockchain should be confidential, so only the parties involved know the information, on a public network this stops chain analysis from competitors on a Private network (Intranet) this means staff members with access can see but those without the clearance or rights cant see what they are not authorised to see… Wonderful; with a private chain none of the above would be possible, this is not Tor after all.
Without bombarding you with technical information I hope, this light-hearted post highlights the issue of calling a Confidential Blockchain private merely because it “feels” private and makes others aware that the language when used to describe emerging technology really should be factually correct, let’s not allow marketing departments destroy a promising technology stack that once Lethean’s plan is put into production will increase the efficiency of B2B & H2H (Human to Human) interactions.
Our project own definite plans of being a store of immutable promises, however, the current common use case is the transfer of value akin to the interbank payment system, which is Confidential and very important it is NEVER private, as that is where the gremlins are which would enable foreign actors the ability to undermine the fabric of society and thus your family.
We act in private using the systems Confidentiality is the bedrock of the financial market; not we act in private using the privacy of the system.
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