I’d like to hear your ideas and thoughts on hybrid blockchain model. Since we are now focusing on blockchain bridges, let’s have a discussion on this topic.
Blockchain will transform EVERY industry. I can’t think of a single industry that cannot benefit from blockchain technology. A research analyst at the Royal Bank of Canada (RBC) sees cryptocurrency, blockchain technology and decentralization as a potential $10 trillion ecosystem.
There are a lot of use cases where data confidentiality could be one of the most important factors (Government, FinTech, Healthcare, etc.). Also, for regulated industries there is a KYC (know your customer) standards that should be considered as well. Blockchain for enterprise, for example will benefit from cross chain bridges and will allow to companies to implement “Hybrid Blockchain Model”.
Companies would implement several networks:
Public blockchain where everybody who joined the network have equal rights to view or modify transactions. All transactions are visible, however identities of transacting parties are unknown.
Internal Clone networks for every department/groups/project or every region (BitClave has a good example for region specific networks)
RBAC (Role-based access control). This alone could be huge benefit for enterprise blockchains, where members could have different rights to view and modify data, and others would have rights to perform transactions.
Clone networks would have their own set validators for specific needs.
Additionally there could be a middle layer network (heart of Hybrid Model), that could be governing transactions between public and private blockchains.
POA core network
POA Clone Company_1_Public
POA Clone Company_1_Internal_US
POA Clone Company_1_Internal_Europe
POA Clone Partners_and_customers_of_Company_1
POA Clone Government_Agency_Company_1_interactions
For several years I’ve been closely working with large enterprise customers and government agencies on virtualization and automation on upgrading their environments. It will take 5-7 years for them to adopt blockchains… Maybe more… We have a great change to speed it up and help them.