IBM Expands Open Source Blockchain Code

(Before It's News)

IBM (NYSE: IBM) has made nearly 44,000 lines of code available to the Linux Foundation’s open source Hyperledger Project to help developers easily build secure distributed ledgers that can be used to exchange most anything of value, including cryptocurrencies.

Blockchain technology has a number of uses for business, Jerry Cuomo, IBM vice president of blockchain technology, tells Mobile Marketing & Technology. “In supply chain management, logistics and security settlement, blockchain technology enables a network of collaborators to work together, cutting settlement time and reducing tampering.”

The blockchain technology enables all authorized collaborators to track blockchain items. For example, different collaborators in a supply chain can keep track of products, so there are no discrepancies as items move from one portion of the supply chain to another, according to Cuomo. “There’s a single version of the truth.”

Among the new IBM services:

• New blockchain services on the IBM cloud: New blockchain services help create and manage blockchain networks. Developers can create digital assets and accompanying business logic to more securely and privately transfer assets among members of a permissioned blockchain test network. Using IBM’s new blockchain services available on Bluemix, developers can access fully integrated DevOps tools for creating, deploying, running and monitoring blockchain applications on the IBM Cloud. Blockchain applications can also be deployed on IBM z Systems, enabling an additional level of security, availability and performance for handling sensitive and regulated data. Blockchain applications can access existing transactions on distributed servers and z Systems through APIs to support new payment, settlement, supply chain and business processes.
• Enabling Internet of Things (IoT) data on blockchain: IBM will make it possible for information from devices such as RFID-based locations, barcode-scan events, or device-reported data to be used with IBM’s Blockchain. Devices will be able to communicate to blockchain-based ledgers to update or validate smart contracts. For example, as an IoT-connected package moves along multiple distribution points, the package location and temperature information could be updated on a blockchain. This allows all parties to share information and status of the package as it moves among multiple parties to ensure the terms of a contract are met.
• IBM Garages for blockchain app design and implementation: To help accelerate the design and development of blockchain applications, IBM Garages will open in London, New York, Singapore and Tokyo to enable IBM experts to collaborate with developers on the design and implementation of blockchain for business. IBM Global Business Services will also expand its blockchain consulting practice for clients in banking and financial services and logistics. IBM Interactive Experience (IBM iX), the largest global digital agency, will also engage clients to co-design new use cases for blockchain in more than 25 IBM Studios around the globe.

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