ABSTRACT
Error correction was a troublesome area for Blockchain transactions as there was no set policy or procedure in place to edit previous transactions. As a distributed ledger, permission-less Blockchain must, by necessity, operate as a peer-to-peer type of network that utilises open source software for the maintenance of the network. An organisation was set up under the Ethereum Blockchain under the developmental concept known as a Decentralised Autonomous Organisation (DAO). As the DAO example demonstrates, the ideological predilections of Blockchain promoters and proponents may prove to be a very difficult obstacle to overcome. One of the major risks that faces any user of a Blockchain-based technology is the risk of losing one’s password. The eventual outcome will most certainly help to determine whether or not Blockchain and cryptocurrencies actually attain the scale and potential that has been envisioned.
