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 “Blockchain will do for transactions what the internet did for information.”

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CEO of IBM, Ginni Rometty famously said- “Blockchain will do for transactions what the internet did for information.”

IBM has always been ahead in the patent field and it does not wish to leave crypto behind. The American multinational technology company has shown interest in Blockchain. IBM is planning to implement the theories and abstract in practical applications. After their tie-up with jewelry consortium, they have now published a patent to license blockchain to be used to connect Internet of Things [IoT] devices with each other. The IBM team has incorporated its ‘Watson IoT platform’ with Blockchain which will allow IOT devices to send data to private ledgers to include in shared transactions and tamper-resistant records.

The team used their educational blog with “The first generation of blockchain was transactions and payments via cryptocurrency. The second generation was decentralized application and smart contracts that reside atop the blockchain. The third generation, where we are now, is the extensibility of blockchain beyond its protocol — a connection with other systems, services, analytics, and more broadly, the outside world.” to build up to the Watson IoT platform.

The team’s opinion is that “Envisioning blockchain as an isolated, standalone solution is a limiting factor that will prevent the technology from reaching its full potential […] my team is framing these challenges as opportunities to demonstrate our expertise. We are here to help our clients reimagine their processes and to facilitate their journey through the implementation of their networks. And we invite you to join us on blockchain 3.0.”

The head of IBM stated:
“My team is framing these challenges as opportunities to demonstrate our expertise. We are here to help our clients reimagine their processes and to facilitate their journey through the implementation of their networks. And we invite you to join us on blockchain 3.0.”

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