> Or maybe they think that it is enough to build some cargo cult system - that just copies the names, but is not distributed at all - to lure investors? My mon

> Or maybe they think that it is enough to build some cargo cult system - that just copies the names, but is not distributed at all - to lure investors? My money is on this (or ignorance). "Private blockchain" is an oxymoron. If you take out "decentralised consensus mechanism" from "blockchain", what is left? They might be working on some innovative database system but without a fully decentralised consensus mechanism (e.g. proof of work, which was the true innovation behind Bitcoin), calling it a blockchain is misleading.