IBM blockchain solutions digest, part 3
IBM has been actively developing blockchain-based solutions throughout 2016. The initiatives of the technology giant in the first two trimesters of 2016 can be read once again in the first and second parts of the IBM blockchain solutions Digest. Below we publish the third and final part of this year’s IBM track record of distributed registry technology.August 29
IBM unites Blockchain and AI in a new business unit
In late August, IBM announced the reorganization of the internal blockchain team into a new business unit, whose work will be devoted to artificial intelligence and cloud computing technologies.
The new division was named Industry Platforms, and Bridget van Kraligen, the former vice president of the company who had previously overseen the Global Business Services division, became its head. As part of this change, which was first announced in the fall of 2015, all the leaders of the blockchain-direction of the company will move into a new division.
In addition to working with distributed decentralized tools, the new formation will also become the lead department on all issues of using Watson artificial intelligence to help clients in the financial services industry.
According to IBM CEO Virginia Rometti, Industry Platforms activities will allow customers to radically “streamline processes” by “taking full advantage of the IBM Cloud, IBM Systems, blockchain features, in-depth knowledge and experience of the company's specialists, and the ecosystem of partners and developers”.
Managing directors for the banking and insurance sectors, directors for working with clients and other managing personnel will work in the division.
The new head of Global Business Services, in turn, was one of the former top managers of Accenture, Mark Foster.
The headquarters of Industry Platforms is located in New York. The division is now responsible for all the company's projects related to the development and research of the Blockchain technology.
Industry Platforms' activities reflect the desire of the technology giant to continue its consistent development in this direction, including the work on the Hyperledger project supervised by the Linux Foundation , in which IBM plays a key role.
One of the first IBM blockchain projects presented to the public in early 2015 was a test project at the junction of the BitTorrent, Ethereum and TeleHash protocols. Since then, the technology giant has begun active work in the direction of distributed technologies, offering customers solutions that combine Blockchain, Watson's artificial intelligence, and other company services.
23 September
IBM and UnionPay are developing blockchain bonus point exchange solutions
IBM and the Chinese UnionPay payment system are working on a blockchain platform for loyalty programs, a test proof-of-concept version of which was submitted on September 23. It is assumed that the solution will allow customers to exchange bonus points (including airline miles, mobile units, coupons for gasoline), obtained through purchases or other activities.
The prototype is based on the Hyperledger Fabric product , a blockchain development with a modular architecture. In particular, it allowed the exchange of bonus points only between authorized partners.
In the future, with the help of these developments, the Chinese payment system plans to integrate online and offline channels, allowing Union Pay card holders to use bonuses to pay for purchases at supermarkets, shopping centers and with any other merchants who installed the appropriate POS terminals.
In general, this loyalty network is positioned as a way to attract new customers and increase their interest in the company's offers by increasing the range of affordable and profitable offers.
September 28
IBM: Financial institutions expect commercial blockchains to appear in 2017
In September, IBM conducted two surveys, according to which it became known that banks and financial companies are planning to release their own commercial blockchain solutions over the next two years.
In total, 200 companies took part in surveys, one of which was intended for banks and the other for the rest of the financial market participants. When asked about the current state of their own developments in this area, 15% of banks answered that they expect the emergence of full-fledged commercial blockchain services until the end of 2017.
As for other financial companies, 14% of this group said about the possibility of withdrawing their projects online by this time.
B ofhowever, the majority of respondent companies suggested that blockchain products of a commercial level would begin to appear on the market en masse closer to 2020. Among banks, 51% plan their releases for this time, and 34% suggest that this will happen after 2020. The participants of the second survey showed very similar results: 56% of non-bank financial institutions are preparing to release until 2020, 30% plan to do it later.
The 4th of October
IBM invests 200 million in opening IoT and Blockchain office in Munich
As part of actively promoting its solutions and research work in the field of artificial intelligence, the Internet of things and Blockchain, IBM announced the opening of a new office for 1,000 employees in early October in the German city of Munich.
Commenting on the event, company representatives declared the company's readiness to “provide customers with a decentralized platform for safe and secure processing of IoT data.” According to the company, IBM Blockchain will allow partners to simplify and secure such procedures, as well as to reduce the costs associated with them. The activity of the new center will be aimed at solving the problems of customers interested in such services.
As an example of one such client, IBM led the Finnish company Kinno. The organization is using the technology giant's Blockchain and IoT tools to develop a supply chain tracking tool. The development allows you at any time to learn about the status and location of the goods sent, as well as to optimize the process of packing and moving.
October 21
IBM and Japanese holding SBI will be engaged in a trial development of a new bond trading system
In late October, the technology giant announced its participation in a partnership project to create a next-generation bond trading system in conjunction with Japanese financial holding SBI Holdings . The development of the open source project Hyperledger, in which IBM is actively involved, was chosen as the basis for the work.
This is not the first attempt to create something similar. In particular, several Japanese companies have already investigated the possibility of using technology to facilitate the trade of so-called catastrophic bonds, and the French bank BNP Pariba is currently working on creating a decentralized trading platform for mini-bonds.
Earlier, SBI Holdings has already shown interest in innovative financial technologies. In particular, the company acquired a share in the Bitcoin exchange of bitFlyer in Japan and took part in the B series of financing the decentralized system Ripple. Collaboration with IBM, according to one of the senior managers of the company, will allow "to assess the complexity and potential obstacles, create a development plan in this direction and gain experience with blockchain solutions."
For IBM, the project is yet another undertaking in a number of blockchain initiatives launched together with partners from various countries of the world.
October 24
Pilot project of IBM and Singaporean startup FreshTurf will improve parcel delivery services
In late October, IBM also announced a collaboration with the Singapore-based startup FreshTurf at the IBM Bluemix Garage site located in Singapore. Bluemix Garage specialists help FreshTurf in creating a citywide distributed network for tracking sea and land shipments in the city-state. The new system based on proprietary blockchain solutions of the technology giant will help optimize the interaction between merchants, logistics companies, storage operators and consumers. The project aims to improve the final stage of package delivery to the consumer.
This is one of the first projects that came to life thanks to the activities of the Singapore IBM Bluemix Garage. Such sites, open in several major cities around the world, are playing the role of innovative hubs, where developers, product managers and designers can get together to collaborate on projects using the IBM proprietary toolbox.
According to representatives of the project, the new tool "will allow users to track shipments and delivery status using convenient mobile applications."
November 14
IBM announces the launch of a joint KYC project
Another Bluemix Garage initiative is related to the KYC ( Know Your Customer ) procedure common in the financial world . During the November Singapore FINTECH festival, IBM together with a startup KYCK! announced the launch of a new blockchain project aimed at assisting financial companies in streamlining the process of reviewing applications from new customers, taking into account the requirements of KYC.
It is expected that the new service will be aimed at simplifying, speeding up and cheapening the relevant processes for financial institutions, while maintaining an adequate level of security and compliance with regulatory requirements.
At the heart of development, as in some other previously described cases, is the open-source Hyperledger solution. In addition, it is also known that the new tool will allow video conferencing with customers and will support encrypted transmission of documents.
After confirming the identity of KYCK! will send data to banking systems, and a special blockchain network, including government and banking organizations, will play the role of one of the links in the process.
November 17
IBM China uses Blockchain to control carbon emissions
In November, IBM and the Chinese company Energy Blockchain Labs announced joint work on a blockchain-prototype market for quotas on coal emissions.
The joint initiative is aimed at encouraging players in the Chinese energy market to reduce emissions by developing a quota scheme and managing the rights to use coal for industrial purposes.
China produces about a quarter of all global carbon-containing emissions, and this problem is acute in the country. But even despite the reduction in the use of coal in China, the new joint initiative of IBM and Energy Blockchain Labs remains relevant, as it can help market participants to advance in solving a number of existing technological problems in this area.
November 30th
IBM helps Mahindra Group create blockchain-based logistics management tool
In late November, the Indian corporation Mahindra Group and IBM announced work on a blockchain application for supply chain management. Mahindra is a large group of companies whose interests are represented in various sectors of Indian industry from aerospace, automotive and agricultural to finance and technology.
The news about the conclusion of a partnership agreement looks very natural against the background of interest expressed by representatives of the Indian business and financial sectors to Blockchain. For example, banks in the country are testing the use of technology for making cross-border payments and other transactions, and various start-ups are trying to apply it in other areas.
According to representatives of Mahindra, the corporation also plans in the future to consider the use of technology in the field of agriculture and transportation.
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