Australian law firm Gilbert + Tobin have published a new white paper, ‘Blockchain and Shared Ledgers: The New Age of the Consortium’, examining the differences between private shared ledgers and public blockchain to support consortia in a commercial setting. The paper also provides a view options for forming a consortium, including governance and operational framework.
The potential of blockchain to reduce transaction and record-keeping costs, streamline business operations and enable new business models is pointed out in this report; although, the main issue of confidentiality is particularly highlighted. Leveraging the trust provided by blockchain technology can enable the removal of intermediaries and reduce transaction, processing and reporting costs. However, the original blockchain model as designed for bitcoin, rather than other financial purposes which may require discretion.