While “cut spending” was a pretty universal response to COVID-19, many organizations also realize that technology spending and digital transformation go hand in hand — and neither can stay on the back burner for long. According to a recent study from IBM Institute of Business Value, despite the pandemic, organizations plan to increase technology investments from 2018 to 2022 by more than a third, from 4.7 percent of revenue to 6.3 percent.
Fortune 2000 executives surveyed by KPMG are optimistic that investments in digital transformation and emerging technologies will increase in the next 12 months. For blockchain in particular, 34 percent of execs plan to increase spending. Other data in the news calls for an approximate 71 percent CAGR for blockchain-as-a-service through 2024. What is your blockchain budget for the coming year?
Blockchain in the news
Moving business forward with blockchain
As businesses begin to reopen, protecting the health of workers is a paramount concern. Digital health passports are emerging as a technology solution that enables individuals to present their health status and employers to reduce risk of COVID-19. With IBM Digital Health Pass, blockchain is the key to protecting personal privacy while helping organizations manage health statuses they receive from individuals. Outside of the workplace, we’re exploring use cases in travel and transportation as well as sports and entertainment.
The Home Depot is using blockchain to improve communications with suppliers, speed dispute resolutions and build a culture of collaboration and trust. The network, built on blockchain technology, developed out of Design Thinking sessions held with the company and its vendors. The sessions explored building a solution to benefit all participants as well as how to make the solution point-and-click easy to use.
Another project built on the IBM Blockchain Platform and using The Linux Foundation’s Hyperledger Fabric launched into commercial production: Lygon, the Australian platform that is expected to cut the time for processing retail leases from weeks to days. Built by a consortium of leading Australian banks and a shopping center company, with help from IBM Research and IBM Blockchain Services, the platform uses blockchain to digitize the cumbersome paper-based bank guarantee process.
USPS applies for blockchain voting patent
The U.S. Patent and Trademark office has made public a U.S. Postal Service patent filing that uses blockchain to separate voter identification from votes to ensure anonymity and securely store votes on the distributed ledger.
Using blockchain to address mental health issues
Deepak Chopra has announced a partnership between the Chopra Foundation and Hedera Hashgraph to use blockchain for privacy and trust in the distribution of content to individuals seeking help with mental health issues.
IBM named a leader in blockchain as a service
ABI Research named IBM the leader in industrial blockchain as a service, leading in both innovation and implementation over other vendors.
JPMorgan Chase gives up its blockchain
Ethereum venture studio ConsenSys has acquired Quorum, the enterprise blockchain platform developed by JPMorgan Chase.
Dapper Labs intros digital sports trading cards
Dapper Labs, creator of CryptoKitties, recently introduced Top Shot trading “cards,” a new digital asset that can be shared, bought, sold and traded on blockchain. The cards feature NBA-licensed stats combined with video clips.
September’s features of “watch, read and listen”
Improving business networks in government with blockchain
Government is tasked with rapid response to the pandemic. This engaging video demonstrates how blockchain can help with specific scenarios from the current situation.
BlockpARTy 3:Building a smarter food supply
Register to hear from IBM’s visionary blockchain client Tejas Bhatt of Walmart and see artist Marina Berlin’s interpretation of the theme “Food Safety and Provenance” in this episode of our BlockpARTy series. Episodes 1 and 2 are available on demand.
Podcast: Elevating event ticketing and curating the fan experience
Hear Harold Hughes, founder and CEO of Bandwagon, discuss how his analytics and identity management company uses blockchain technology to help event venues and entertainers create a more personalized fan experience while eliminating ticket fraud.
Solution brief: IBM Blockchain Transparent Supply
Learn how you can fast track your supply chain data-sharing ecosystem with our proven platform, governance model and network-building experience.
TradeLens Core — our solution built for the containerized freight transport industry — strengthens operations with true end-to-end visibility of containerized freight and powerful trade document collaboration tools.
Still not sure where to start? Schedule time to talk with one of our experts specific to your industry, and they can help guide you in the right direction.
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This newsletter links you to content from IBM and content from sources outside of IBM. Opinions and content from non-IBM sources are their own and do not necessarily reflect the views of IBM.
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