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For many, blockchain is synonymous with bitcoin, which is the best known example of usage of a blockchain network. However, its use in business has grown dramatically in recent years, and it is clear that the transformative power of blockchain across industries is only just being discovered.
What are the possibilities? Well, here at the first IBM Think Conference, there are great opportunities to learn more. IBM Z and IBM LinuxONE General Manager Ross Mauri led a session today called “Betting Big on Blockchain for Business,” highlighting how blockchain will be pervasive across industries.
From finance to insurance, retail to healthcare, there are multiple use cases where blockchain is in the process of incredible breakthroughs that will transform aspects of these industries.
And it’s not just about finance and supply chains. Creating a fully-transparent food system from farm to store or tracking the provenance of diamonds, even enabling a program for tackling plastic waste in our oceans while also addressing poverty in developing countries… the potential is almost endless.
And what about businesses that are implementing this technology today? On stage, Head of Innovation and Solution Delivery Ram Komarraju from CLS talked about how blockchain is helping to drive digital transformation in his business and how the application of distributed ledgers can transform capital markets.
But not all blockchain technologies are the same, so how do you make blockchain business-ready? Today’s enterprises generate millions of transactions, each involving a small number of the thousands of partners they work with. This requires a blockchain implementation where data is only shared with the specific partners involved, also known as a permission-based blockchain. One where they can manage thousands of concurrent blockchains, ensuring security and isolation and delivering with speed.
The IBM Blockchain platform is the only fully-integrated enterprise-ready blockchain platform designed to accelerate the development, governance and operation of a multi-institution business network. It is delivered through the IBM Cloud running on IBM LinuxONE. Built to unparalleled standards for speed, scale and security, it features unique technology that isolates each blockchain instance from any other. IBM LinuxONE takes blockchain to the next level for the enterprise.
To learn more and to see how to get started with enterprise blockchain, click here.