Private Blockchain R&D
Mostly used in enterprise-level applications, private Blockchain networks are similar to public ones in that they are peer-to-peer and decentralized, but differ in that they require authorization from the network starter. Notable advantages of private Blockchains include:
Cheaper & faster transactions. Since transactions only have to be verified by a few nodes which can be trusted to have high processing power, they workout to be cheaper and faster.
Customizable. Private Blockchains can be customized for any business model and the organization running a private Blockchain can easily change Blockchain rules, revert transactions, modify balances, etc.
Known validators. As all validators are known, transactions become low-risk.