IBM and their investment in Blockchain
IBM (International Business Machines) began in 1911 as the Computing-Tabulating-Recording Company in Endicott, NY. CTR
In 1924, CTR was renamed International Business Machines.
Wall St has fondly called IBM "Big Blue", as seen in the popular and financial press since the 1980's.
IBM holds the most U.S. patents of any business to date, and IBM employees have been awarded many notable titles, including five Nobel Prizes and six Turing Awards.
Blockchain is now part of the IBM portfolio, with many services available.
There are over 1,500 employees working on more than 500 blockchain projects at IBM, in industries like shipping, banking, healthcare, and food safety.
In the beginning stages of R&D, it may have seemed like blockchain was a corporate welfare project for a rouge department.
Far be it from me to make such an assumption today.
"Historically we've seen IBM invest in a technology early with some early promise, but then they've had difficulty commercializing good technologies or innovations at scale," says Josh Olson, an analyst at Edward Jones.
IBM offers a Blockchain Platform that provides a managed and full stack blockchain-as-a-service (BaaS) offering that allows you to deploy blockchain components in environments of your choice.
"IBM Blockchain solutions", is currently available for a multitude of industries.
More recently, IBM offers a Blockchain Platform Extension for Visual Studio (VS) Code, which is designed to simplify the complexities of building with blockchain, helping users integrate their smart contract development and network management functions.
A review about IBM Blockchain Platform states:
"Nothing beats IBM for blockchain tech"
What do you like best?
IBM blockchain is unparalleled in its efficiency and ease of use for data and ledger management in the blockchain
What do you dislike?
One of the most, if not the most, expensive enterprise blockchain solutions available on the market.
Some critics have stated their blockchain is not a true decentralized permissionless blockchain.
As explained in this article:
Shipping giant Maersk and IBM have a joint collaboration in blockchain for "TradeLens", their distributed ledger technology (DLT) platform for supply chains.
But there has been difficulty getting other carriers to sign on, as the system needs a mainstream adoption for it to work.
Whatever your purpose or industry, there are many options available in the blockchain space.
One must consider the longevity of the support, scalability, and reliability your hosting platform will provide.
Is that company going to be around for the next 100 years, or will it fade away as quickly as it sprang up?
Aside from the hype, what's best for your business?