IBM has been a fan of blockchain technology for quite some time now. But the company is taking matters one step further, as they announced a new blockchain ecosystem that will help other partners created DLTs. An intriguing development, although more proprietary blockchains are the last thing the world reads right now.

IBM Facilitates Creation of New Blockchains

It has become apparent the financial sector, as well as other industries, would like nothing more than to create their own proprietary blockchain in the future. Instead of creating one unified system – or even better, embracing one that already exists – the creation of new blockchain networks is a booming market right now.

IBM wants to get involved in that particular industry, by offering their new blockchain cos system. Among its potential users are VCs, start-ups, software vendors, and enterprise developers. Being part of the future growth of the DLT ecosystem is of the utmost importance for IBM, as they want to position themselves as one of the market leaders.

IBM Industry Platforms Senior VP Bridget Van Kralingen stated:

“Business networks will only reach critical mass when innovators, industry experts and infrastructure providers come together in new ways to reinvent how business transactions happen. The growing maturity of the Hyperledger Project code is a major milestone. That’s why IBM is investing to help developers accelerate the creation of blockchain networks by providing an environment where these players can work together.”

IBM will also provide the necessary education and tools aimed to reduce the required time from planning to execution. The Hyperledger Fabric Slack channel will be used for support during office hours, and assist with any troubleshooting that may occur. Plus, there will be multiple courses and learning modules available to business users and developers.

This open environment welcomes everyone looking to collaborate on distributed ledger technology. Among the ecosystem, participants are Cloudsoft, EY, Everledger, and quite a few others. Having the support of EY is quite significant, as the global company is looking to boost bitcoin adoption as well since they installed a Bitcoin ATM at their offices in Switzerland.

It is good to see a technology giant such as IBM expand their blockchain capabilities in quick succession. Moreover, the company wants to make DLT accessible to enterprises all over the world. Whether it is financial service,s IoT, supply chains, or even healthcare, every single industry can benefit from blockchain technology.

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