Telefonica, Central Bank of Azerbaijan and Others Demonstrate Blockchain Momentum Is Growing Across Multiple Industries in Europe
IBM announced work underway with leading European companies to continue to innovate with blockchain, progressing projects from proof of concept to production environments.
The attributes of blockchain technology are ideally suited to large networks of disparate partners. A distributed ledger technology, blockchain establishes a shared, immutable record of all the transactions that take place within a network and then enables permissioned parties access to trusted data in real time. By applying the technology to a variety of business processes, a new form of command and consent can be introduced into the flow of information, empowering multiple partners to collaborate and establishing a single shared view of a transaction without compromising details, privacy or confidentiality.
The hallmark of IBM’s blockchain business has been the ability to convene broad groups of network participants to embrace a collaborative platform approach to blockchain adoption. Clients are capitalising on the opportunity for greater trust and transparency using blockchain across a variety of industries, for example to better manage the reconciliation of international mobile phone roaming charges, securing digital identity for citizens, and complying with new European banking directives on customer communications.
With more than 500 blockchain projects globally, IBM is engaged across all industries, where European projects in particular are on the rise, where, according to IDC, “blockchain spending in Europe is now growing faster than anywhere else.
“From large enterprises to start-ups, across multiple industries, businesses across Europe are selecting IBM Blockchain,” said Andrew Darley, IBM Blockchain Platform Leader, Europe. “Clients are attracted by the production-readiness of the IBM Blockchain Platform, allowing them to run highly secure networks in any environment of their choosing, on premise, via IBM Cloud, or an increasing number of other industry cloud providers.”