Information technology giants are slowly making a transformation towards blockchain technology companies. Many of them have already started small departments for research and development to keep a pace with the changing economies of the world which are readily adopting the new updates. IBM Research – India has also initiated projects powered by blockchain to reimagining a future world with better transparency, efficiency, and security of the systems.
According to Livemint, it is stated that the blockchain and smart contracts team at IBM are working on to develop an enterprise-grade solution model as per their requirements. Such Information technology turned blockchain technology companies are making an effort to meet the customer requirements with additional value and better services.
IBM struck a deal with Indian designers, Falguni and Shane Peacock last year to create a unique system for the database for tracking fashion trends of the market. The designer’s wanted to automate the entire process of browsing and studying thousands of images from fashion archives in order to understand trends and drawing a better inspiration. IBM used the AI system Watson for their customized system which went out perfectly.
Another successful project of the IT turned blockchain technology companies was done for a Pune-based agricultural start-up AgroStar for providing essential insights on crop disease to about 1 million farmers of Gujarat, Maharashtra, and Rajasthan.
IBM And Blockchain
Companies like IBM have a made a significant contribution of a number of tens of thousands of lines of code to Linux Foundation led Hyperledger platform. The techie giant has shown a keen interest in the encryption based technique and has created a small department which runs very much similar to a blockchain technology company. (Via Researcher Watson IBM)
The company made a much advance beginning into blockchain which is why their business has reached new heights. Despite several blockchain technology companies competing against them they still have a strong base and foundation already created for them.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]