The IBM corporation together with Innovate Finance non-profit organization is going to carry out studying of potential of the Blockchain technology for the purpose of development of new methods of business in modern conditions. On the basis of this technology the system of cryptocurrency Bitcoin which is successfully functioning several years was created. The cryptocurrency turned now into recognized means of payment, virtual monetary unit which is accepted by the large and small enterprises, corporations and services.
Now IBM is going to study additional opportunities of Blockchain, involving own computational and analytical capabilities. The technology about which there is a speech draws now attention of banks and financial structures which study Blockchain for the purpose of implementation of new projects.
Representatives of Innovate Finance already reported that partners of the project will be able to get access to the high-performance computer systems located in computer center of Hartree. It is possible to tell about the Blockchain technology that it provides tracking of movement of cryptocurrency from one purse on another. But the same technology can be used also in other purposes. "Blockchain as technology, is very interesting and perspective" — Arvind Krishna, the vice-president of IBM Research considers.
The CEO of Innovate Finance Lawrence Vintmeyer declared that if development of new standards and technologies on the basis of blockchain is carried out effectively, universal implementation of blockchain, including use of technology in banks, financial structures, payment services will soon become possible.
Why all this?
Representatives of IBM consider that bitcoin can become "cash of the future". Now the corporation works on creation of open-source of the software by means of which partners will be able to sign digital agreements which will be fixed on the wide area network. For last year researchers from IBM developed own blockchain version which possibilities are tested for the purpose stated above. In practice it can look as follows. For example, the Chinese supplier and the buyer from the USA agree about carrying out the transaction, and the bank of the USA in which the account of the buyer is opened carries out payment to the supplier via the Internet.
Also in January IBM led the experiment which received the name Adept. Its purpose — tracking of the devices connected to the Network by means of the same blockchain technology.
In the laboratory the command of the project will work on creation of payment applications, methods of fight against illegal methods of use of cryptocurrencies, etc.
"I would like to expand banking services on those 3,2 billion people which will become middle class in the next 15 years. Therefore I would like to reduce the cost of accounting services. And Blockchain for this purpose have all opportunities" — Arvind Krishna commented on project perspectives.
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