IBM bets big on Blockchain, pushes IBM Blockchain ad during World Cup Finals
France winning the world cup wasn’t the only highlight of the World Cup Finals for blockchain enthusiasts. The community was in for a surprise when they saw IBM airing IBM Blockchain ad during the World Cup 2018.
The ad outlines the benefits of blockchain to create a smart supply management solution. The ad points out the use of Blockchain in various industries such as Food, Precious stones, and Shipment tracking.
It’s no surprise that IBM is constantly working to push its blockchain solution to various industries. Two of the major use cases in which IBM is pushing is Tracking and Supply Chain management.
In April 2018, IBM had released another advertisement showing the use of Blockchain in the tracking of “Single origin Kenyan Coffee”. The ad showed coffee being tracked from the coffee farms in Kenya to the transportation in the Pacific Ocean to the local coffee shop.
For its blockchain based tracking and supply chain management solution, IBM is pitching the use of the HyperLedger Blockchain, an open source blockchain by the Linux Foundation. Till now IBM hasn’t pitched existing commercial blockchains to industries (apart from Stellar), even though IBM has shown interest towards them.
In 2017, IBM went on a partnership with Stellar Lumens and Currency Exchange KlickEx to create a cross-border payment solution for banks.
What happened to the partnership between IBM and Stellar (XLM)?
Back in 2017, IBM had partnered with Stellar to create Cross Border payment solution for financial institutions using Stellar’s Lumens tokens. It was named the Universal Payment Solution (UPS) by IBM. UPS is live in the South Pacific and matches currencies across 13 countries and 7 different trade lanes.
A name change is to take place in Q2 of 2018. The name Universal Payment Solution will be dropped.
Bank partners for IBM’s Universal Payment Solution include:
- Banco Bilbao Vizcaya Argentaria
- Bank Danamon Indonesia
- Bank Mandiri
- Bank Negara Indonesia
- Bank Permata
- Bank Rakyat Indonesia
- Kasikornbank Thailand
- Mizuho Financial Group
- National Australia Bank
- Rizal Commercial Banking Corp. (RCBC) Philippines
- Sumitomo Mitsui Financial Group
- TD Bank
- Wizdraw (HK) of WorldCom Finance
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.