IBM’s Biggest-Ever Blockchain Trade Finance Trial Could Go Global


Two government agencies funded IBM’s latest blockchain implementation, the largest ever in terms of parties involved and arguably one of the more impressive in the sophistication of the offering.

With support from both Dubai Customs and Dubai Trade, IBM has so far courted a telecommunications service provider, a letter of credit issuing bank, a responding bank, a freight company and an airline in a trial centered on what major financial firms believe is one of the tech’s most promising use cases.

Once the all-inclusive supply chain and trade finance proof-of-concept is completed, it will be integrated with to Watson’s AI, making it one of IBM’s most pervasive blockchain projects to date.

But while all this is exciting, it’s what happens once the various players begin to implement the results of the test in other countries around the world that will truly set the project apart.

According to James Wallis, IBM’s vice president for blockchain markets and engagements, the real value derived from such a large-scale project is developing the ability to communicate across different nations and multiple industries to achieve a common goal.

Wallis, who helped coordinate the massive, multi-party collaboration, told CoinDesk:

“We don’t know exactly where it’s

Read more ... source: CoinDesk

Let's block ads! (Why?)

Powered by Bitcoin Central