Jang Hwa-jin Korea IBM representative”This year, the block chain will be popularized”
“2019 will be the year block chain technology penetrates consumer’s life”
IBM expects the blockbusting industry to continue to grow as IBM announces its achievements and its plans for the year. In a media briefing held at IBM’s headquarters in Seoul on July 3, Chung Hwa-jin, CEO, said, “As consumers work behind applications (applications), they will not know they have a block chain.
Virtual currency (cryptography) prices have declined, but the block-chain industry ecosystem has evolved steadily. It is based on the fact that the number of block chain projects increased by 2.6 times compared to 2017, and commercialization network appeared.
Initially involved in the development of a private block chain hypervisor, IBM has conducted 10 block-chain projects, including Trade Lens and IBM Food Trust. “IBM’s Food Trust is a representative project,” said Jang. “IBM’s Food Trust, which has improved the reliability of its food distribution chain by using block chains and block chains for logistics processing based on paper documents, is a representative project.” Reducing the distribution tracking process, which took 6.6 days using a block chain, to 2.2 seconds “He explained.
IBM expects more companies to join the block-chain network. “The block chain is a chain of trust,” he said. “It’s important for many people to join the network.”
“The trade lens was developed with the shipping company Musk. “We were able to build our own block chain, but many competitors participated in the trade lenses. Companies have also recognized that it is important to increase participants. “
IBM develops a private block chain. Generally, no cryptography is used for private block chains, but IBM can take them into the private block chain, given the importance of the token economy.
In this regard, Zhang introduced a plastic bank case in which IBM participated in the development. Plastics Bank is a project to provide cryptography that can be used to buy groceries when people bring waste plastics from Haiti in Central America. Although many of the inhabitants are poor people who can not receive financial services, they have been able to use the block chain to provide them with passwords and help them in their lives.
“IBM does not develop cryptography directly, but it has several years of experience,” Zhang said. “If you want, you can participate in development. We plan to provide a service to make a password. “
Oh Se Sung Hankyung.com reporter sesung@hankyung.com
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