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IBM Unveils Blockchain Offering for Businesses

IBM unveiled its new product enabling enterprises to engineer programs on its cloud service through blockchain code from its Hyperledger Project, an open source endeavor hosted by the Linux Foundation.

The IT company said Monday the IBM Blockchain was the first product they curated for developers which can help them develop enterprise-grade innovation through Hyperledger Fabric, the first code series to be released by the project.

This technology can facilitate over 1,000 dealings each second and has the needed tools to be utilized by major entities in designing their own softwares.

IBM added it was collaborating with SecureKey Technologies and some Canadian financial institutions to establish a virtual identity network through its latest service offering.

The network, to be revealed in the latter part of the year, seeks to make it more convenient for customers to verify their identities when using various services including bank accounts.
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