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IBM Blockchain Investments Are Paying Off

IBM was ranked as the number one for blockchain technology providers in 2017, in an enterprise survey which was carried out by Juniper. It was one of the first big companies, who recognised the potential of these ledgers and contributed code to the Linux Foundation’s HyperLedger open-source effort, which encouraged start-ups to try the technology on its cloud completely free of charge, and it now seems that this effort is really paying off. 

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Donna N. Dillenburger, of IBM explains the appeal of this; 

“We need a way to share information that has a pedigree behind it. We’re creating a system where our clients can be confident that information is secure and verifiable. The innovation of blockchain with the security of our enterprise platform is that it provides a mechanism to stand behind data in a scalable way – whether it’s for banking, supply chain, food safety or healthcare. Once you have a repository of trusted data, you have a foundation for analytics that can be used to responsibly share information for the greater good of business and society.” 

The large company has already worked with over 400 clients, and have successfully implemented blockchain applications across financial services, supply chains, IoT, risk management, digital rights management and healthcare. One of their latest partnerships is with Walmart, JD.com and Tsinghua University National Engineering Laboratory for E-Commerce Technologies, on a Blockchain Food Safety Alliance, that has ultimately been designed to enhance food tracking, traceability and safety in China. The senior vice president of IBM Industry Platforms, Bridget van Kralingen said; 

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“Blockchain holds incredible promise in delivering the transparency that is needed to help promote food safety across the whole supply chain. This is a fundamental reason why IBM believes so strongly in the impact this technology will have on business models. By expanding our food safety work with Walmart and Tsinghua University in China, and adding new collaborators like JD.com, the technology brings traceability and transparency to a broader network of food supply chain participants…The insights gained from the work in China will shed light on how blockchain technology can help improve processes such as recalls and verifications and enhance consumer confidence due to greater transparency in China and around the world. 

The reason that IBM investments have paid off is because they are bringing the blockchain process into the mainstream. They have created a fresh look at technology, which has enticed younger tech buyers, giving the company energy that it hasn’t shown in years.

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Frances is a writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.