Using a Permissioned Blockchain?

Consider Structuring It as a VIE

John “Jack” Castonguay, PhD, CPA, and Kathleen Bakarich, PhD, CPA

The adoption of blockchain has grown steadily since the technology was first introduced as a platform to create a decentralized currency, free from the effects of monetary policy implemented by governments. It is now used by businesses to manage supply chains, verify payments, create algorithm-based contracts, and more. Many of the blockchains in the enterprise environment are being established as permissioned blockchains, granting only invited parties access to the blockchain to read and/or write transactions. While sometimes viewed as lacking the important benefits of a truly decentralized environment without intermediaries, permissioned blockchains are appealing to businesses concerned with the privacy and security of company information should identities be discovered on a public blockchain, as well as with the speed of processing transactions and compliance with regulatory requirements.