> Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data

This thing, however, exists only for the purpose of solving decentralized trust problem and cannot be secure without a popular public cryptocurrency. Hence private blockchain is a fallacy. If trust relies on authority it's just a weird database, not a "private" blockchain.

It's similar to how people were annoyed with the commons clause added to an open source license being associated with the same old unrestricted license, that in fact became a completely different license.