A main selling point of blockchain is that all of its transactions are public. Even when in a private blockchain, transactions can be public to all of the participants in that network.
At the same time, this can be a big drawback, since many kinds of transactions have to remain private due to financial terms, the competitive strategy, or other reasons.
There is an Estonia-based startup that has a possible solution. Lightstreams has launched a blockchain network with a new Permissioned Block protocol that employs smart contracts to grant, block or revoke access to content for specific users.
“The blockchain is broken at the moment in terms of privacy,” said Lightstreams CEO/founder Michael Smolenski in a statement. “It’s simply too public.”