December 8, 2017
Featured Updates
Blockchain for Digital Reinvention: Three lessons from Blockchain Explorers
Veena Pureswaran | IBV Global Research
Recently, the IBM Institute for Business Value conducted a global survey of nearly 3,000 CxOs from over 20 industries to understand their strategy for leveraging blockchain as an enabler of Digital Reinvention. Through observing and interacting with these blockchain explorers we’ve identified three lessons learned that further their pursuit of blockchain.Market
Activity and Trends
Australia is now home to the world’s first blockchain-based stock exchange
Quartz | December 6, 2017 | https://goo.gl/t4sTcU
After a two year trial, the Australian Securities Exchange (ASX) has announced it will use blockchain for its core services starting next March. It will be the first mainstream equity market to employ blockchain to clear and settle trades.
Research suggests that using blockchain in the stock trading industry could save $6 billion annually worldwide. The ASX is not the only exchange experimenting with the technology; the Nasdaq, the London Stock Exchange, and the Japan Exchange Group are also running their own trials.
This New Blockchain Project Gives Homeless New Yorkers A Digital Identity
Fast Company | December 6, 2017 | https://goo.gl/bNjaZA
A New York City startup, Blockchain for Change, is heading up an initiative in conjunction with Life Wireless, which will help low-income groups in the city by creating digital identities for them. Fummi, the start-ups mobile app, will help the city’s homeless open accounts, receive money and track activity. It provides a digital wallet pre-loaded with cryptocurrency to be used at homeless shelters throughout the city.
The app, with the use of blockchain technology, helps service providers connect and aid the homeless more efficiently. It creates an internal ecosystem for IDs, payments and services, minimizing transaction costs.
UBS Patent Reveals New Blockchain Application
Coin Desk | December 5, 2017 | https://goo.gl/3tne2u
A recent UBS patent application reveals that the bank may use blockchain to validate transactions and create more secure computer systems. Smart contracts will be used to automatically register a new record to the chain. The same contract will then notify the user that the record is added. There are two different routes that UBS could take when developing this blockchain application. The bank could either store the data and add smart contracts to the same blockchain, or develop two separate blockchains; one to hold the smart contracts, and one to store the data.
UBS is no stranger to blockchain, and recognizes the power of the technology. UBS chief executive, Sergio Ermotti, stated that the technology will, “play a big role in changing and reshaping our industry.” UBS has already revealed a blockchain trade transaction platform built in partnership with IBM.
MUFG and NTT Data Announce Blockchain Trade Pilot
Coin Desk | December 6, 2017 | https://goo.gl/qroq1T
A blockchain proof-of-concept (PoC) was just announced by Japanese firms, Mitsubishi UFJ Financial Group (MUFG) and NTT Data. The PoC requires participation from Singapore’s National Trade Platform (NTP), and aims to boost trade between Singapore and Japan. Ultimately, the pilot design intends to more securely and transparently ease international trade flows, connecting digital platforms through blockchain.
NTT Data and MUFG are experienced with blockchain technology. Earlier this year, NTT Data launched a new consortium to investigate use cases for blockchain. MUFG and 12 other major companies from various sectors are involved with the initiative. Additionally, MUFG has explored several blockchain projects on its own, such as cross-border payment services in collaboration with Standard Chartered.
Blockchain Education
IBM Blockchain Foundation Developer Course
We are excited to accounted the IBM Blockchain Learning site is now live, featuring a new IBM Blockchain Foundation Developer Course. Stay tuned for more courses and sessions coming in the next couple weeks!
IBM Blockchain Foundation Consulting Course
Continue to follow the IBM framework, please take this course building upon your consulting knowledge. Stay tuned for more courses and sessions coming in the next couple weeks!
BlogChain: Machine Wallets & Machine-to-Machine Transactions
By Jack O’Brien and Will Quaranta
The modern banking system is built on the assumption that transactions take place between two humans participants, but it’s time for a change. Advances in blockchain technology have led to the creation of machine wallets, which allow preprogrammed or autonomous machines to complete monetary transactions without human intervention. This successful technology is already giving way to a model of machine-centered businesses, so you might be wondering how will it affect you in the coming years?
Inside the Most Disruptive Technology Since the Internet
Blockchain is coming. Like the internet before it, this new shared digital infrastructure is set to transform the economy and revolutionize how you consume media, how you communicate online and even how you vote. So strap in with OZY, and let us catch you up on what it all means and then vault you ahead to the next big cryptotrends.
Blockchain @ IBM Storytelling Team
Blockchain Part I: Evaluate, Engineer, Execute
Pramod Achanta | August 24, 2017
Blockchain Part II: Engineering Transformation; Building out the Blueprint
Pramod Achanta | September 8, 2017
Blockchain Part III: Execution; Breathing Life into Blueprints
Pramod Achanta | September 15, 2017
Blockchain @ IBM Institute for Business Value
Driving changes
Automation, digital commerce and the Internet of Things are redefining vehicle operation, usage and ownership models.
Advancing blockchain
In this IBM Institute for Business Value Expert Insights report, we share some lessons from a successful, ongoing blockchain initiative between CLS and IBM.
An expanding market
Central banks and financial system regulators around the world are asking themselves how blockchain is going to change their technology underpinnings and those of the commercial banks and financial institutions they regulate. These executives are especially concerned about the non-functional requirements for blockchain.
Tuned to trust
The current model for managing identity is quickly becoming unsustainable — costly, disjointed and all too fallible. Blockchain, the technology underlying distributed ledgers shared across a scalable group of individuals and institutions, takes a new approach. How should organizations approach this new opportunity?
Transparency that engenders trust
There is no doubt that blockchain is about bringing trust to transactions. For almost any supply chain — be it food, medical records, precious gems and minerals, real estate or credit default swaps, to name a few — success depends on the promise of transparency and auditability for all participants.
Fast forward
For centuries, global trade has been the single greatest creator of wealth in human history and market friction the greatest obstacle to wealth. Blockchain technology –which creates a permanent and transparent record of transactions –has the potential to obviate intractable frictions across industries.
Our Contributors
Disclaimer: The postings are of our contributors and don’t necessarily represent IBM’s positions, strategies or opinions.
