Blockchains need to be bespoke, Barclays exec argues

Developers need to reconfigure their approach and way of thinking when building blockchains, according to Barclays’ Intrapreneur, Julian Wilson.

The Next Web reports that, speaking this week at an event entitled Hard Fork Decentralized, Wilson argued developers should not be using the technology as a bolt-on or addition to current ways of working, but rather overhauling business models built around a suitable blockchain.

In some cases, venturing down this route purely for the sake of it is the worst thing a company can do, he continued. For an organisation like Barclays, it is not as simple as just migrating to the blockchain, given its hundreds of years of evolution. Solutions therefore need to be bespoke.

And when it comes to satisfying know-your-customer (KYC) policies, they should be built with the law in mind, and not the other way around, Wilson concluded.