To help blockchain achieve a positive reputation, IBM follows five principles.
1. Open is better
Blockchain networks need to foster diverse communities of open source contributions in order to be successful.
2. Permissioned doesn’t mean private
For enterprise blockchains to ensure regulatory and fiduciary compliance, the decentralized ledgers should have permissioned and trusted access.
3. Governance is a team sport
There shouldn’t be a central source or person that runs the network and validates transactions. Rather there should be three trust anchors that prevent a concentration of influence
4. Common standards are common sense
Common standards must be in place to foster interoperability and a robust ecosystem of innovation.
5. Privacy is paramount
Data on the blockchain should always belong to the developer in order to safeguard information. All application programming interfaces should require permissioned access.
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