What’s the Point of a Private Blockchain?

Image credit: debeterewereld.nl

Blockchains were originally made to circumvent centralization, as I wrote about here. The inventor of blockchain, Satoshi Nakamoto, was interested in cutting intermediaries out of many systems, specifically payment systems, and the solution was to create a a pure peer-to-peer system that would be validated by participants anywhere in the world. With all of this excitement around blockchain technology in the media…