International Business Machines Corp (NYSE:IBM) has provided the latest example blockchain going ‘mainstream’ with the group launching a platform to support international transactions.
Working with banking groups and blockchain technology group’s for the new platform which IBM says can “reduce the settlement time and lower the cost of completing global payments for businesses and consumers.”
The project is part of IBM’s ‘blockchain as a service’ initiative which was first announced earlier this year.
“With the guidance of some of the world’s leading financial institutions, IBM is working to explore new ways to make payment networks more efficient and transparent so that banking can happen in real-time, even in the most remote parts of the world,” said Bridget van Kralingen, senior vice president of IBM Industry Platforms.
“Making distributed ledger technologies more interoperable is the latest example of IBM’s leadership driving the rapid advancement of blockchain.”