It means the security is non existent. Read any of the andrew poelstra papers for details on how and why.<p>Subjective truth has been around for decades. No one cared about it , because its not useful. The only reason blockchains are useful now is because they enable value transmission between untrusted parties. (Which private chains don&#x27;t do)<p>The only reason blockchain is a buzzword now is so that consultants can bilk banks for database contracts.