Richard Lumb

Accenture’s “Editable Blockchain” Prototype Draws Criticism

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As Accenture files a patent prototype that would allow changes to be made to the blockchain in ‘exceptional circumstances’ the consultancy firm has come under criticism. Earlier this month, Richard Lumb, global head of financial services at consultancy firm Accenture, wrote a column in the New York Times discussing the immutable ledger of transactions through the blockchain. […]

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Accenture Executive: Blockchain’s Immutability Its Own Worst Enemy

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The blockchain’s immutability, one of its greatest strengths, could also prove to be one if its greatest limitations, given the need to reverse certain activities in financial services, argues Richard Lumb, an Accenture executive, writing in The New York Times. Lumb noted the bitcoin blockchain’s immutable record clashes with evolving privacy laws, such as newly-proposed […]

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