2) Need to know only basis: Perhaps this concept is a bit perplexing but with privately held shares there is no need to share it’s business details publicly. Now, this is a great advantage as it allows private companies to be able to work at accomplishing their given goals without worry about the competition catching wind and beating them to it. Being able to work on a deliverable or strategy without the added pressure of the public can yield great success once completed and truly serve as a shock to the industry, whereas with publicly traded companies these feats are already known ahead of time and give the competition ample time to plan and counter for them. This could also be viewed as privately held companies not getting bossed around. The inner workings of the plans to success can stay secretive until it is time to release them. Imagine if you happened to be the only cannabis company that was to implement blockchain into your business model. Perhaps a few other companies might be working on it, but if we look at the business that has adopted this into their plans we can assume that many of the late adopters have piggybacked off the ideas of the companies that initiated this effort.
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