LACChain Framework for Permissioned Public Blockchain Networks: From Blockchain Technology to Blockchain Networks
Over the past decade, different blockchain technologies have contributed to the creation of thousands of blockchain networks which have hosted thousands of proofs of concepts and pilots, with generally satisfactory results for stakeholders. However, scalability has been a big roadblock for most of these projects. We believe that the reasons why most blockchain-based solutions do not scale well are that they are built on ledgers that are not properly designed as the instrumental piece of architecture needed by these projects and that it is not clear who is liable for what. There is rarely an upfront discussion about governance, data management and privacy, technical support, operational fees (e.g., tx fees), maintenance, regulatory risks, or sustainability in these decentralized networks. This framework is a set of recommendations that enables the creation of multipurpose network of networks that are robust, reliable, sustainable, compliant, scalable, and have clear definition of accountabilities. The framework can also be applied to both permissionless public and permissioned private blockchain networks, but can only be fully realized in a permissioned public infrastructure. The framework builds on the idea that in order to develop scalable blockchain projects and solutions, it is necessary to switch the conversation from blockchain technologies to blockchain networks.
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| Language: | English |
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Inter-American Development Bank
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| Subjects: | Governance, LACChain, Digital Technology, Digital Asset, Regulation, Cryptocurrency, Decentralization, Smart Contract, Cloud Computing, Digital Infrastructure, O32 - Management of Technological Innovation and R&D, O35 - Social Innovation, O38 - Government Policy, |
| Online Access: | http://dx.doi.org/10.18235/0003747 https://publications.iadb.org/en/lacchain-framework-permissioned-public-blockchain-networks-blockchain-technology-blockchain |
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