Blockchain is a technology that requires collaboration to deliver maximum value and effect to enterprise needs. Many companies today have partnered with competitors and allies in an industry to realize the benefits of a Blockchain consortium with good planning, investment, and commitment in place.
A consortium is a publicly available decentralized network with a permissioned DLT technology. Distributed ledgers offer business-to-business workflows which are proof of the fact that Blockchain functions best when there is collaboration on set standards, infrastructure development, and transaction executions. Blockchain consortia are mediums through which mutually interested companies, regulators, and governments are collaborating to cater to their best interests in Blockchain.
This blog will give you a quick pill of knowledge about the processes involved a consortium Blockchain network right from formation to management.