[jaakl]

The promise and all the overhead of real distributed blockchains is that you should avoid any need to trust anyone, and if you're really paranoid then you should not trust even your own database copy. All this could be hacked just as Amazon can. Power of real distributed ledger is that as long as less than 50% of the data copies (consensus) are not hacked, then database as whole can be trusted. Now if you can hack also consensus, then even blockchain is hackable. With the "centralized ledger" you don't have the consensus protection level, therefore I see only marginal (if any) security improvement on top of just plain database with properly applied access control and auditing. You still have way more parties you need to blindly trust.