A private blockchain is a permissioned network where access is restricted to authorized participants, providing a more controlled and secure environment than public blockchains. Businesses often use private blockchains for internal processes, such as supply chain management, financial transactions, or data sharing. These blockchains offer faster transaction speeds and greater privacy while maintaining the integrity and security of decentralized systems. Private blockchains are ideal for organizations looking to utilize blockchain technology without exposing sensitive data to the public, ensuring confidentiality and regulatory compliance.