“Big Blue” IBM’s blockchain layout: customers have exceeded 500 | advertise, news, blog

This great company founded in 1911 has a history of nearly a hundred years. IBM is a godfather-level company in the IT field. It has contributed countless great inventions and innovations to the world: mechanical tabulating machines, business typewriters, Fortran programming language, RISC instruction system, mainframes, hard drives, chip and material technology, symmetric encryption algorithms, personal computers, minicomputers, Deep Blue system, Watson, Internet of Things, Smart Earth, artificial intelligence...

As early as 4 years ago, IBM established a 1,500-person blockchain department to develop and develop blockchain-related technologies. In the application for blockchain technology patents, it is already ahead of Alibaba, Tencent, etc.

In 2018, IBM and blockchain-related revenue has reached hundreds of millions of dollars.

What has this "giant" who keeps a low profile and silently laid out plans done in the past few years? Let’s take a look at IBM’s layout in the blockchain field over the years.

Hyperledger

Hyperledger, as an application of distributed ledgers, is used to record transactions between network participants, such as the exchange of assets or data, and to achieve sharing, replication and synchronization among network members.

The commercial ledgers currently used by enterprises have disadvantages such as low efficiency, high cost, and opacity. It can be said that the hyperledger came into being.

At the end of 2015, IBM announced its participation in the Open Ledger project, an open source blockchain project led by the Linux Foundation. Project) (now renamed the Hyperledger Project), the project has received widespread attention from the financial, technology and blockchain industries as soon as it was announced. In addition to IBM, participants in the project come from influential companies in the financial technology industry and banking industry such as Intel, Cisco, London Stock Exchange Group, JPMorgan Chase, Wells Fargo, and State Street.

With IBM's brand appeal and prestige in the technology field, more than 250 corporate members have settled in so far, including well-known giants such as Cisco, Intel, JPMorgan Chase, Baidu, and Tencent. According to the official website of the project, the entire Hyperledger project involves an astonishing 3.6 million lines of code.

Digital ID card

In March 2018, IBM partnered with Canada's SecureKey, which has a network of all major banks, the Canadian government and Rogers Communications that can verify digital identities.

SecureKey is a triple-blind system that gives you ownership of your identity.

If someone needs access to your identity to confirm a transaction, they can only do so by requesting specific information from you.

For example, you want to go to a bar and the bouncer at the door needs to verify your age, but showing your driver's license will reveal a lot of unnecessary information.

By using blockchain, you can show your date of birth without providing more information.

Therefore, for other transactions, you only need to provide the specific information required for the transaction and do not need to provide other irrelevant information. In essence, your own identity is only yours to control.

Food supply chain

Today, the food supply chain is becoming more and more complex, making it difficult for food producers, suppliers and retail stores to ensure the authenticity of products throughout the supply chain.

As we all know, blockchain has the characteristics of traceability and transparency, which can make the food supply chain transparent and meet consumers' needs for food safety.

In September 2018, Walmart partnered with IBM to build a food supply chain map so that they can track agricultural products and promote safety in the event of an outbreak of food-borne diseases.

When an outbreak occurs, it often takes weeks to trace the problem back to its source.

If blockchain were used in a fully connected supply system, it would only take operators two seconds to find the source of an outbreak.

To achieve this goal, competitors will further cooperate and share logistics information. Although these processes require industry-wide collaboration, IBM has been able to reduce the time it takes to trace the origins of the virus outbreak, a task that would have taken weeks to complete without blockchain technology.

Issue stable currency and build a global payment network

On March 19, 2019, according to media reports, IBM has signed letters of intent with six international banks, such as RCBC in the Philippines, Banco Bradesco in Brazil, and Bank Busan in South Korea, aiming to use the IBM payment network World Wire based on the Stellar public chain to issue stablecoins or tokens supported by legal currency.

The network promises to allow compliant institutions to transfer value across borders - remittances or foreign exchange - faster and cheaper than the traditional banking system.

World Wire has payment locations in 72 countries around the world, including 48 currencies and 46 "bank terminals" (including banks and money transmitters) where people can send or receive cash. Lumens is the native token of the Stellar public chain. When two legal currencies cannot be traded directly, Lumens can become a "bridge currency" between the two.

Of course, cooperative banks are still under review by relevant departments.

IBM believes that stablecoins will enter a wider application market. The total global payment volume is quite staggering, with cross-border transactions reaching hundreds of billions of dollars every year. IBM's profit plan is to charge lower fees from hundreds of billions of dollars.

IBM has more than 500 alliance chain projects

IBM has participated in more than 500 consortium chain projects, covering industries including shipping, banking, healthcare and food safety.

Its partners, such as Carrefour, are one of the partners of its food safety project IBM Food Trust. In addition, Walmart, a leading global retailer, has reached an in-depth blockchain cooperation with IBM and requires its vegetable suppliers to use the blockchain platform developed by IBM starting in September 2019.

Epilogue

In 2018, many giants announced their entry into the blockchain industry, but IBM is definitely the real leader when it comes to truly in-depth deployment in this industry. Now that the blockchain has squeezed out the bubble, it will usher in more technology applications, and IBM, a super believer in blockchain, is bound to usher inHarvest season.

(Source: Lianhu Finance)