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Lightstreams seeks to solve a blockchain vulnerability: It’s too public

The startup is out with a network offering decentralized storage controlled by blockchain-based smart contracts that grant or block granular access.

Barry Levine on May 21, 2018 at 10:00 am

One of blockchain’s main selling points is that all of its transactions are public. Even in private blockchains, transactions can be public to all of the participants in that network.

But that can also be a major drawback, since many kinds of transactions need to remain private because of the financial terms, the competitive strategy, the personal info or other reasons.

An Estonia-based startup is now out with a possible solution. Lightstreams has launched a blockchain network with a new Permissioned Block protocol that employs smart contracts to grant, block or revoke access to content for specific users.

“The blockchain is broken at the moment in terms of privacy,” said Lightstreams CEO/founder Michael Smolenski in a statement. “It’s simply too public.”

[Read the full article on MarTech Today.]

About The Author

Barry Levine

Barry Levine covers marketing technology for Third Door Media. Previously, he covered this space as a Senior Writer for VentureBeat, and he has written about these and other tech subjects for such publications as CMSWire and NewsFactor. He founded and led the web site/unit at PBS station Thirteen/WNET; worked as an online Senior Producer/writer for Viacom; created a successful interactive game, PLAY IT BY EAR: The First CD Game; founded and led an independent film showcase, CENTER SCREEN, based at Harvard and M.I.T.; and served over five years as a consultant to the M.I.T. Media Lab. You can find him at LinkedIn, and on Twitter at xBarryLevine.