There is currently no specific number to indicate how many companies are studying how to apply blockchains, but the IBM Institute for Business Value released a few months ago to show how hot the industry is.
IBM is currently investing heavily in blockchain technology. In this article you will see examples of IBM's investment blockchain technology and its possible economic benefits.
Most investors believe that blockchain and bitcoin are synonymous, but most people don't know that blockchain is the infrastructure, and bitcoin is just one form of application.
There is currently no specific number to indicate how many companies are studying how to apply the blockchain, but the IBM InsTItute for Business Value released a few months ago to prove the industry's enthusiasm:
70% of the early adopters of blockchain technology are doing research on how to use the blockchain to create innovative business models and gain more customers;
65% of banking institutions want to apply blockchain to their products in the next three years;
80% of banks believe that trade finance, corporate loans and reference data are likely to be subverted by blockchain technology;
15% of banks will implement commercial blockchain solutions in 2017;
Many companies believe that 83% of the reference data; 80% of retail payments and 79% of consumer loans will be affected by the blockchain.
Another data from Markets and Markets indicates that the blockchain industry will grow from $210 million in 2016 to $2.3 billion in 2021, with a compound annual growth rate of 61.5%. Therefore, the blockchain is currently only in the early stages of development, but looking ahead we can see its potential and the economic value that can be achieved in the medium term.
Many companies are working on blockchain solutions, but based on current results, IBM and Microsoft are the leaders.
Blockchain will subvert the industry
food safety
Food safety is gaining more and more attention, after Wal-Mart used blockchain to track pork supply chains in China to ensure food safety.
Health care
As cyber hacking attacks become more frequent and common, the personal information published by medical institutions urgently requires triple protection of privacy, security and accuracy. Blockchain technology can help record this information.
Internet banking
In the past few years, the financial industry has experienced the violent impact of Internet finance. In the fields of payment and lending, fintech has also begun to seek new breakthroughs in the blockchain. IBM's cloud computing services and blockchain economies are helping some Internet finance start-ups, developers and independent software vendors provide a platform for faster design and development. Eigencat, for example, is a startup from Singapore and is currently using IBM's Bluemix to provide a digital investment solution for the financial markets. Some Fintech companies are using IBM's cloud to develop new investment solutions. Another company, FreshTurf, also uses the Bluemix from IBM to provide blockchain-based storage for logistics in Singapore.
Some examples of IBM blockchain applications
SBI Securities - In order to provide securities trading business, a new securities trading platform test based on blockchain technology is underway.
Japan Stock Exchange – How the blockchain technology is going to be tested in low volume markets.
Mitsubishi Tokyo UFG Bank – uses blockchain to detect design, management and contract execution between its business partners.
The London Stock Exchange – is exploring the role of the blockchain in risk management and increasing transparency in global financial markets.
Kouvola InnovaTIon - Provides detailed logistics information on goods by transforming the logistics value chain into a more seamless process using blockchains.
Kenya - The Kenyan government is using blockchain technology to develop an unchangeable and transparent education management system. In order to reduce the degree of fraud and the restriction of illegal academic certificates, the Kenyan government is working with IBM to publish a diploma certificate platform based on blockchain networks.
Credit Mutual Arkea - Manage customer identity information through blockchains, help better understand customers and increase customer satisfaction.
BNY Mellon - is designing and developing an application for securities lending, trading and transferring assets through a blockchain network.
Raychem Financial Group - is testing the use of virtual currency for settlement.
Everledger - Formally uses blockchains to track the quality, source and trading information of diamonds and other high-value assets.
IBM's investment in blockchain
IBM recently announced a $200 million investment in its Watson Internet of Things project in Munich, Germany. In addition, IBM has opened an Innovation Center (InnovaTIon Center) in Singapore to work with the Singapore Financial Development Board (EDB), Financial Services (MAS) and IBM Research to accelerate the acceptance of blockchain in the financial and trade sectors. speed.
Possible benefits
IBM's Bluemix platform is currently undergoing blockchain reforms, which offer a two-price service plan: the initial phase of the service is free, but if you are looking for a more secure system, you will need to pay $10,000 per month. For some financial data, foreign media contacted IBM, but received a response saying "There is no financial data related to the IBM blockchain for the time being." The reason for the foreign media speculation may be because the blockchain is still inside IBM. At an early stage, it did not affect IBM's revenue.
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