Various companies are focusing their attention on bringing blockchain solutions to the enterprise sector. IBM has been making a lot of headway in this regard, as the company launched their enterprise blockchain service. This project is based on the Hyperledger Project, and gives enterprises full access to building applications using blockchain code.
Enterprise Blockchain Apps Are Around The Corner
It has been a long time coming, but blockchain applications for the enterprise sector are getting one step closer to realization. Thanks to IBM launching their enterprise-oriented blockchain platform, developing such applications becomes a lot more straightforward. It is also another validation of the Hyperledger Project, which was created for this exact purpose in the first place.
Under the IBM Blockchain banner, the technology giant is offering enterprise-grade distributed ledger technology to developers all over the world. By making use of Hyperledger Fabric, developers will be able to build the applications their company needs. It is unclear what type of applications can be expected in the future, though. Blockchain technology can make a big impact on nearly any business model that comes to mind, and IBM Blockchain will facilitate that process.
Keeping in mind how Hyperledger Fabric is capable of processing over 1,000 transactions per second, IBM Blockchain will be of great value to the financial sector first and foremost. Then again, transactions do not necessarily have to be financial in nature, and can just as easily relate to the data being processed at such a high rate. Moreover, Hyperledger Fabric is designed to facilitate the process of having consumers verify their identity.
To put this latter part into perspective, SecureKey Technologies is using the same technology to build a digital identity network. Using blockchain technology for that exact purpose will be of great value, In fact, a group of Canadian Banks has pledged support for this project as well, which will introduce blockchain technology to the banking sector in the coming months. This new network is scheduled to launch later in 2017, albeit no specific launch date has been announced at this time.
It is evident IBM continues its positively aggressive push to bring blockchain technology to companies all over the world. With several large clients already developing blockchain applications using IBM Blockchain, it is evident the future of distributed ledger technology looks bright. Another project, which serves as a blockchain-based asset management platform for carbon assets, is expected to launch in China over the next few months as well.
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.