GOOD, blockchain is inappropriate for our industry because it is too complex, requires lack of trust to be valuable and does not offer as much potential ROI as other initiatives.
1 2 A network with no trusted intermediary, and shared copies of the database 4 3 Proof of work scheme to prevent 51% hack Incentive to participate ⏳ • Also lots of potential value if there are interactions between transactions
3 Distributed writers Lots of copies A network with no trusted intermediary, and shared copies of the database Proof of work scheme to prevent 51% hack Incentive to participate Hard to get to scale across all publishers We have a high trust environment, lots of trusted intermediaries Anonymity is eventually pointless in STM -> low incentives for attack Existing incentive schemes too entrenched to be supplanted
case study - Bitcoin 95% of transactions on the bitcoin network may be artificial Not secure Not egalitarian Not efficiently distributed Over 80% of mining is preformed by six mining pools $2.7M stolen from exchanges per day in 2018
Lack of technical capacity or attention within our organisations Who owns the transaction? Who owns a peer review? Reward systems in academic publishing are hard to shift