In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This engaging piece by DEAN TAKAHASHI published on VentureBeat dives deep on how technology behemoth IBM will use blockchain as its commerce backbone. Read on.
“About four years ago, Jerry Cuomo and other technologists at IBM started to study blockchain, thanks to the phenomenal rise of Bitcoin and later Ethereum — cryptocurrencies based on the decentralized ledger that is both secure and transparent.
Now Cuomo is vice president of IBM Blockchain, and he interacts with more than 1,500 blockchain experts at Big Blue. Working with the Linux Foundation, IBM created its own fast and secure Hyperledger Fabric to build a more robust version of blockchain that can scale up to the demands of modern commerce and its millions of transactions per second. Hyperledger Fabric is gaining momentum as the infrastructure for created trusted networks in a wide variety of industries. Earlier this week, IBM said it is providing the IBM Blockchain Platform for Hu-manity.co to use blockchain to enable consumers to exercise control over the use of their personal data.
And Cuomo is spreading the word about the benefits blockchain offers all sorts of industries. Recently, IBM cut a deal with shipping giant Maersk to create a blockchain-based supply chain where you could instantaneously track shipped goods back to the original source in a couple of seconds. Already, 94 companies have joined the effort.”