Attached to the chain

The blockchain is currently on everyone's lips in the ITC industry. But despite all the possibilities that this technology undoubtedly offers, it is often overrated. A good example of this is currently given by the market for used software.

After the great hype about crypto currencies has imploded, the blockchain, the technological approach behind most coins, now remains in the ITC world. It promises several sought-after features such as security, trustworthiness, flexibility and scalability and, with its decentralized structures, offers plenty of disruptive potential for a wide variety of applications and established industries. No wonder, then, that more and more companies with proud breasts are announcing that they are now also betting on the blockchain.

But here the problem that is often overlooked already begins. Because there is no such thing as a blockchain, reliable standards are still lacking everywhere. However, this also limits some of the other possible advantages. Secure encryption of data in the blockchain itself does not mean that compliance requirements such as security and data protection can be automatically guaranteed in the respective implementation. Similarly, securing data integrity says nothing about the actual quality and credibility of the data.

A good example of possible traps is currently offered in the area of used software. In recent weeks, several traders have announced that they will »secure« the transfer of licenses via blockchain. What should and at least theoretically could suggest security to resellers and customers proves to be a mere fig leaf on closer inspection in many cases. While some providers actually store the entire license history up to the first owner and its type of contract and the number openly, the buyer receives only little meaningful fragments from others, the correctness of which he cannot check.

1. Attached to the chain
2. The blockchain's week links