MoreVisitors look at devices at Accenture stand at the Mobile World Congress in Barcelona, February 26, 2013.
LONDON Reuters - Accenture is challenging a defining feature of blockchain, its immutability, by patenting a system that will allow data processed and stored using the technology to be edited.
The consultancy said on Tuesday data would only be edited under "extraordinary circumstances", in order to resolve fat-finger-type human errors as well as to meet legal and regulatory requirements and address wrongdoing.
Blockchain users were quick to criticize Accenture's move, which is the latest investment by the financial services industry in the nascent technology, which promises to cut costs, reduce settlement times and increase transparency.
The original blockchain underpinning digital currency bitcoin is kept secure by data being shared across a global network of computers, which are incentivized by competing to win new bitcoins in a system know as "mining".
But while there have been worries about its irreversibility, some technologists argue that it is a feature that makes blockchain unique and that without it, the term becomes meaningless.