IBM Turns to Blockchain And Cryptocurrencies To Survive

Martin Senior Vice President, IBM Global Markets for International Business Machines Corp. has declared today that IBM is running more blockchains internally than any other fintech or technology company currently. He declared this today on CNBC’s program “Fast Money” while stating that blockchain and cryptocurrencies were very important to the fintech industry today and how they were innovating on this field to stay relevant as a company today.
IBM was one of the most important technology enterprise groups of the latest century: from being precursors of the first attempts of creating a working computer, passing through the early days of software till the coming of the digital age: IBM has done it all. It is still a giant company in software technology, but its old relevance is long gone. But is this kind of companies that are seeing more and more benefits to adopting and supporting blockchain and cryptocurrency as a business model.
Martin left clear that IBM Blockchain business was booming because they were a known, reliable company that offered this services with a good reliability record. He mentioned that three things are key to their customers, big banks like Bank Deutsche: Security: because they run their blockchains in-house, but everything is encrypted and safe; Scalability: their blockchain systems rivals some more centralized solutions, letting them run thousands of operations by second, instead of hundreds; and Software, because they have the tools to build an ecosystem around blockchain to really apply it to a business.
This interest in making the crossover to a software as a service platform has been taken to other instances as well. IBM has also been partnering with the cryptocurrency project Stellar Lumens to create a new stable coin, a currency pegged to the dollar, to explore the feasibility of a virtual payment network operated by them. This could also mean that IBM is starting to show interest in entering the world of virtual payment processors, an already crowded market segment, but one that has room for improvement.

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