Blockchain governance and error correction issues

In the previous chapter, reference was made to the importance of being able to reverse transactions in the event that consumers were subject to fraud or when goods that they had contracted to purchase had failed to meet their expectations. Moreover, error correction was a troublesome area for Blockchain transactions as there was no set policy or procedure in place to edit previous transactions. Of course, given the immutable nature of Blockchain technology, this is a feature that is explicit by design and is one of the main selling points that attests to the veracity of the data contained on the Blockchain. However, it is still possible for the Blockchain to contain errors either as a result of the inaccurate entering of information, or through a deliberate attempt to commit fraud (as will be shown below).