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Blockchain: A Practical Guide to Developing Business, Law, and Technology Solutions by Michael Wuehler, Solomon Lederer, Rene Madsen, Kedar Iyer, Paul R. Allen, Joseph J. Bambara

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8   Private Blockchain Platforms and Use Cases

Blockchain is a peer-to-peer distributed ledger technology, which makes it easier to create a more cost-efficient network with no central point of control. This is in contrast to the world where members of a business ecosystem maintain their own ledger or systems of record (SOR). These separate ledgers are continually being reconciled with one another in an inefficient, expensive, and often nonstandard way. Over time, these separate ledgers have been duplicated many times within each member’s datacenters. It has gotten to the point where data governance, testing, release management, and in effect the complete software development life cycle (SDLC) is always hampered and more or less broken or damaged. ...

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