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Advantages
They have no transaction costs, making them essentially free to create, store, and maintain.
They scale and perform entirely as a function of participants, not with any central system's capacity.
Because they are not persisted in any central system, there is no trove to protect.
- Because only the parties to a given relationship know them, there is no concern about personal data and
- privacy regulations due to third-party data controllers or processors.
+ Because only the parties to a given relationship know them, concerns about personal data and
+ privacy regulations due to third-party data controllers or processors are much reduced.
Because they are not beholden to any particular blockchain, they have minimal political or technical
baggage.