Despite An $160 Million Investment Per Year, IBM Is Still Working Hard On Blockchain Adoption

Despite the enthusiasm of the blockchain hype and the countless benefits its offering, only 1% of executives said they are developing this technology in their companies.

IBM, an American company for years leader in technological innovation, is investing substantially in the adoption of the blockchain. Notwithstanding the company investment of more than 160 million dollars per year, the New York-based technology giant has still been doing its best to make a successful foray into the blockchain space.

“We have seen a lot of skeptics talk about the validity of blockchain solutions,” said IBM general manager and head of blockchain, Marie Wieck. “And I think with over 90 organizations and over 150 million events captured on the system, we really are seeing proof in the pudding in terms of where people are spending their time to get benefits from blockchain.”

IBM-Maersk Blockchain Platform Is a ‘Big Step Forward’

 

Swiss logistics giant CEVA Logistics has announced, in a press release August 10, a partnership with IBM and Maersk.

TradeLens – the joint solution – is based on blockchain technology and increases levels of transparency and visibility along the customers’ supply chain.  This should improve the transparency and predictability in the supply chain of the customers.

“We see high potential in TradeLens because of the real-time access it provides to all partners in the supply chain. It is a big step forward toward establishing a market standard for blockchain solutions. With our integrated network in Freight Management and Contract Logistics, combined with our global footprint and state-of-the-art IT capabilities, we will contribute significantly to both our own digitalization strategy going forward and those of the industry,” says Xavier Urbain, CEO of CEVA Logistics.

TradeLens blockchain is a permissioned blockchain which in contrast to public blockchain networks, is a closed ecosystem and each participant is well defined. This type of blockchain is built to allow an organization or a consortium of organizations to exchange information and record transactions efficiently. They do not rely on anonymous nodes to validate transactions nor do they benefit from the network effect.

 

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