Bezant’s IBM collaboration analyzed
Six days ago, on September 4, Bezant announced a collaboration with the IT tech giant IBM. The goal of the collaboration is to “push the boundary” of the Hyperledger fabric that Bezant will be built upon.
Bezant is a decentralized payment platform upon which robust payment applications and e-commerce stores can be built. The collaboration with IBM will enable Bezant to successfully build the necessary framework upon which end-to-end blockchain solutions will be facilitated.
If you’re a long-term follower of the project, you know that the team has decided pretty early on to build their payment solution upon the Hyperledger blockchain framework. For this reason, it makes sense to collaborate with IBM, as they will be able to provide valuable help and assistance during the process of establishing the Bezant ecosystem.
Thanks to the Hyperledger Fabric framework, Bezant will be able to provide a viable payment solution to customers who wish that the data of their customers remains secure and private. This may be speculation at this point but it is important to mention that Sovrin is another partner of IBM that creates an ID verification solution for the crypto ecosystem. It could be possible that we will see an integration of Sovrin into the payment processes of Sovrin. This aspect becomes especially interesting as Bezant has also stated that their enterprise customers will be able to use their platform for identity management. The possibility of an integration with Sovrin is at this point, however, pure speculation.
Bezant has pronounced and ambitious goals for the collaboration with IBM. In fact, the team seeks to push the boundary of the Hyperledger framework. This means they seek to make the most use of the given blockchain architecture in its many nuances. The partnership is great news because IBM is the right partner for enabling Bezant to make full use of the given ecosystem.
It is also interesting to note that Bezant envisions a variety of exciting use cases for the enterprise customers of their platform. These use cases include identity management, contract management, management of rewards points, and contract management among many other possible utilizations.
The reason why IBM was chosen for the collaboration is that they are one of the key building blocks of the Hyperledger Fabric. In fact, Hyperledger Fabric is a joint collaboration of IBM and other corporations/companies that seek to develop an open source implementation of block chain technology for business use cases. As such, Hyperledger Fabric serves as the foundation for the development of applications and business solutions in a modular architecture.
In summary, the collaboration is a great fit for Bezant and should enable them to build a strong and healthy ecosystem upon the Hyperledger Fabric.