IBM Blockchain is a private, decentralized blockchain network that has been the most successful with enterprise clients who are less risk-averse, Manders said. He has seen the biggest opportunities in using it to link into enterprise cloud and legacy technologies more seamlessly than is possible in other decentralized networks.
The IBM Blockchain developer tool was designed to be flexible, functional and customizable. IBM has also invested in creating a user-friendly interface to simplify critical tasks, such as setting up, testing and rapidly deploying smart contracts.
Rakesh Mohan, IBM director of development, blockchain, said the company has seen significant progress in financial services and banking, as well as supply chain.
Rakesh MohanRakesh Mohan
Some examples of successful blockchain apps include IBM Food Trust, which has completed more than 18 million transactions representing more than 17,000 products, and Blockchain Community Initiative in Thailand, which supports services such as payment obligations and enterprise auctions for 22 Thai banks.
IBM Blockchain Transparent Supply is designed to help enterprises improve traceability in supply chain management. Top features support quality assurance for validating the provenance of materials, improved forecasting and tools to reduce the cost of dispute resolution, product recalls and document sharing. Various tools help manufacturing, retail, pharmaceutical and consumer goods companies jump-start their blockchain rollout.
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