The report, commissioned by the Pentagon, stated that blockchain is not decentralised, is vulnerable to attacks and is running outdated software. It further said that a subset of participants can “exert excessive and centralized control over the entire blockchain system.”
Representative image.
Amid the growing adoption of blockchain technology by big tech firms at a global level, a new report by the Pentagon has raised questions on the decentralisation and security aspect of the technology, warning firms to carefully review all risks before investing in it.
The report, “Are Blockchains Decentralized? Unintended Centralities in Distributed Ledgers”, commissioned by the Pentagon and released a couple of weeks ago, notes that big tech is at a critical moment, with many top companies already heavily investing in blockchain technology.
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