According to foreign media reports, IBM is expected to launch the largest blockchain commercial system within the company as early as September in order to expedite the internal transaction traceability within IBM. In the future, IBM plans to sell blockchain platforms containing the system to the outside world.
Lei Fengnet (search for "Lei Feng Net" public concern) has also explained in previous reports that the blockchain is a kind of digital ledger with irreversible features, and the characteristics of distributed storage can also solve the current transaction operation is not transparent and other drawbacks. With blockchain technology, each transaction is recorded on the blockchain, and users can continue to trace back.
The project also makes IBM one of the largest organizations to test this emerging technology in real-world commercial transactions to date. Through blockchain technology, it will help IMB's global financial department to resolve customer and partner transaction disputes.
Blockchain technology has the advantage of decentralization and can make transactions more efficient. At the same time, IBM’s action has also signalled the market that has invested heavily in blockchain companies and technology, although their commercial deployment is still at an early stage. Jerry Cuomo, vice president of blockchain technology, said: "The project is expected to enable IBM Global Finance to save about $100 million in transactional disputes."
Cuomo said that each year there are about 25,000 disputes such as order errors or delivery errors of computer components. At present, it takes an average of 44 days to resolve such a problem. It requires employees to trace historical steps through 6 to 7 different applications. Sometimes they need to contact banks and other involved parties. In the past few tests, IBM successfully reduced this process to 10 days.
Documenting transaction details in the blockchain led to faster tracking of transaction details and more accurate than current IBM processes. The new project system operates in parallel with IBM's existing financial applications. Key nodes in the transaction process use customer codes to collect data, such as ordering time, delivery time, and payment time. Cuomo said that speeding up the resolution of problems will help speed up the return of funds. "With this application, we will be able to avoid locking up 100 million dollars."
It is reported that IBM eventually plans to sell the disagreement resolution software of some IBM blockchain platforms, but it has not disclosed the time and price of the sale.
Fred Wilson, Silicon Valley’s top venture capitalist, sees blockchain technology as an important application that can be used to create a better open business model. The future will also be an important technology pillar of the Internet.
For companies with a complex supplier network, blockchain technology is exciting. Don Tapscott, CEO of Blockchain Revolution, said that with the blockchain, all information records in the supply chain are permanently searchable, "When you are ready to buy a burger in the store, you can know which animal feeds All information, type of antibiotics, and its flow in the supply chain.†Recently, startup Everledger announced that it will work with IBM to develop a blockchain system to manage the trading chain of valuables, such as mining from mining to trading in diamonds The whole process.
In addition to permanent traceability, the decentralized nature of the blockchain also has the effect of streamlining the process. For example, Toyota Financial Services used it to track the flow of auto parts between factories and countries.
It is worth mentioning that IBM's blockchain business applications not only heralded the business prospects of the technology, but also, most importantly, it marked that the application of the blockchain has gradually shifted away from the digital currency application originally used as its underlying technology. Other industry expansion.
At present, although the heat of the blockchain is gradually increasing, the actual application scenario does not seem to be much. Previously, industry insiders said that, in fact, from the perspective of the current development stage of the blockchain, 2009 and 15 years will be shaped by numbers and Bitcoin. On this basis, early players and geeks have established upstream. Or downstream digital wallet exchanges, and other services. In the 16th to 19th years, we expect that it is still in a development stage, but there will be a commercial stage. It will be used by corporate banks and financial institutions to adopt clearing and settlement payments, and the technology will not appear until 2020. Civilian-level technologies, including healthy big data encrypted data storage, will gradually mature.
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