Re: As it was a private system...
@AC. "and that's your problem right there"
You are utterly wrong. A private blockchain works rather well. You only need to commit a final hash occasionally to a public chain to get independent non repudiation of whatever you have hashed to that point. Remember just because bitcoin transactions are in the blockchain this isn't necessary. They could be stored separately and just use the blockchain for verification.
The big problem with a public shared blockchain is who is paying for it. Bitcoin currently costs $17M a day just to support 200,000 transactions per day.
Biting the hand that feeds IT
