After Microsoft’s Blockchain-as-a-Service, another tech giant IBM has announced its plans to develop blockchain. It is not new for IBM to be involved in crypto-technology as last year IBM and Federal Reserve had announced plans to explore further into the possibility of creating digital currency (digital dollar).
IBM has been working on the blockchain technology for a while now and the company is expected to start testing its version of the digital ledger sometime next year, reports the Wall Street Journal. According to their report, IBM intends to use this blockchain technology to manage and maintain their computers and other hardware leased out by clients.
The potential use of blockchain technology to network the Internet of Things devices is already a widely discussed topic. Few companies like 21 Inc. are already working on prototype smart devices that can make use of such a blockchain based network to maintain their performance, service and status records. Apart from maintaining these records, the blockchain network between devices can be used to communicate with each other and even the service center for scheduled maintenance or any other issues. These devices, once it becomes a reality will be able to pay for their own services.
In addition, the company is also expected to contribute to the development of blockchain based Hyperledger project. IBM may also introduce development kits and software environments that can be used by developers to create blockchain-based applications that can work on the company’s mainframe. The company also plans to create a network known as IBM Garages in multiple cities like London, New York, Singapore and Tokyo. These Garages, as a part of the company’s commitment to support blockchain technology, allows customers to experiment with IBM’s blockchain software.
IBM has always been leaders in the IT industry, but will it emerge as a leader in crypto-currency industry as well, is yet to be seen.