A consortium network is a type of blockchain or distributed ledger technology where participation and transaction validation are restricted to a select group of pre-approved entities. These networks typically operate with a permissioned structure, allowing members to maintain control over governance and data access. They offer a balance between decentralization and centralized control, often tailored for specific industry applications. This setup contrasts with public blockchains that allow anyone to join.
Context
News reports on consortium networks frequently focus on their adoption by enterprises and financial institutions for inter-organizational processes like supply chain management or interbank settlements. Discussions often revolve around the trade-offs between privacy, efficiency, and the level of decentralization these networks offer. Regulatory bodies also examine these structures for compliance and systemic risk implications.
The consortium's shared ledger modernizes the correspondent banking model, enabling T+0 settlement and tokenized asset interoperability for global capital efficiency.
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