Blockchain technology to the layman is just a network that is used to carry out certain activities in the crypto industry. If we are to critically analyze and define what Blockchain technology is, we can say that it is a decentralized, distributed, public ledger. Blockchain uses two key functions that result in its processing, which is storing information on the block in a public ledger known as the chain, hence the Blockchain terminology.
IBM debuts new Blockchain platform
With the way blockchain technology is evolving every day, a long-standing firm, IBM, has announced the launch of a new IBM Blockchain 2.5 platform. The platform, according to the firm, promises a multi-party system, which means it can be used across different industries in the sector. The platform houses the qualities of Blockchain technology, promises fast, easy, and transparent transactions. The firm also noted that the security on the platform has been doubled to eliminate the risk of hackers getting a client's personal data.
The firm further noted that the new platform aims to help its customers in deciding to make investments from various fields. Privacy control will be one of the cores of the network. Talking about the new multi-party system, the Director at IBM, Andy Carelli said,
" At IBM, we are committed to delivering the most advanced and comprehensive tools, technologies, and infrastructure within our IBM Blockchain Platform to help advance powerful multi-party systems".
The new platform promises exciting developments
Giving his take on the new things to expect in the new platform, the director stated that the latest version has the open-source innovation with The Linux Foundation’s Hyperledger Fabric 2.0 and delivers new integrations with Red Hat technologies. He noted that the new platform also promises more usability, flexibility, and development speed with support for Hyperledger Fabric 2.0, Red Hat CodeReady Workspaces, Red Hat OpenShift 4.3, and Ansible Content Collections.
The new Blockchain platform likely benefit businesses across the world. The platform promises to drive adoption of the Blockchain technology and help different industries and sectors across the country in the world.
This disruptive technology has many potential uses and has been deployed in almost all sectors of the economy. Besides using the technology in the financial market industry, Blockchain technology has been used to monitor supply chains, as a means of data processing, used in hospitals, and is planning to be used for digital voting in the coming months.