Blockchain harbors the enormous potential to upend many entrenched business practices by applying the technology’s underlying features. Yet, the technology still hasn’t gained a strong foothold in organizational use. Experts repeatedly argue that legacy blockchain technology like Bitcoin (BTC-USD) was never intended to serve enterprise-level use cases. For instance, public blockchains’ decentralized and permissionless structure doesn’t quite fit the needs of enterprises and organizations that manage sensitive data. The idea of ledger transparency doesn’t fit this mold. On top of that, most existing blockchains aren’t scalable enough to meet organizational demands for high throughput.
