Does Private Blockchain Make Sense?

Abstract

In this study, we propose a permissionless private blockchain framework and clarify that this framework is effective for blockchains self-managed and maintained by a single organization. The idea of our framework is to make a private blockchain permissionless, so that it can be verified by many unspecified users, thereby suppressing fraud by a single organization whose trust is important. Therefore, we argue that it makes sense for a single organization to use a permissionless private blockchain from a security perspective.