Blockchain’s Power Lies in its Network, Participants and Members
“Welcome to the brave new world of enterprise blockchain, where corporations are embracing technology underlying cryptocurrencies like bitcoin and using it to speed business processes, increase transparency and potentially save billions of dollars," said Michael del Castillo, in the Forbes article 'Blockchain Goes To Work At Walmart, IBM, Amazon, JPMorgan, Cargill and 45 Other Enterprises.'
In the article, Forbes takes a look at the far-reaching capabilities of blockchain technology and some of the industries it has impacted such as: insurance, banking, health care and the capital markets.
According to the article, the Depository Trust & Clearing Corp. (DTCC), which records most of the world’s stocks, bonds, mutual funds and derivatives transactions, will begin the largest live implementation of blockchain. Records for about 50,000 accounts in DTCC’s Trade Information Warehouse will move to a customized digital ledger.
Also, Digital Asset Holdings, a New York based start up, launched their Hyperledger project which was funded by thirty companies including ABN Amro, Accenture, Cisco, CME Group, IBM, JP Morgan Chase, NEC, State Street, VMWare and Wells Fargo.
Finally, the article also touches upon what the author believes might be the biggest and most successful enterprise blockchain initiative yet. IBM employs 1500 staffers devoted to the new technology and reports that its IBM Blockchain powers 500 client projects.
To read the article and to learn more about how blockchain is being leveraged and it’s far reaching implications, please see here.
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