Public (open) blockchains are open and decentralised, where anyone is allowed to participate in the activities of the blockchain. This model is most commonly used in cryptocurrencies. Private (closed) blockchains, in comparison, have a permissioned and verified list of participants that are allowed to interact with the blockchain. This list is controlled by a central party. Private blockchains can be used by corporations to improve business processes and manage internal assets, transactions or audit trails.