How IBM Could Help Take Bitcoin’s Blockchain Mainstream

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IBM (NYSE:IBM) is looking to incorporate a key aspect of Bitcoin’s technology into its business.

IBMBig Blue likes blockchain, an aspect of Bitcoin that helps keep the cryptocurrency safe. The technology works as a master database of all Bitcoin transactions that is shared among all participants in a network.

Everyone has a list of the transactions and can track ownership of the Bitcoins through the blockchain. On Tuesday, IBM announced it will roll out initiatives for developers to deliver blockchain in a manner that better suits the business world.

The company started the project by making 44,000 lines of code available to the Linux Foundation’s open source Hyperledger Project, which is a collaborative effort to help advance blockchain technology. Developers can use the platform to build blockchain ledgers for use outside of Bitcoin.

According to a press release by the company, “Blockchain applications can access existing transactions on distributed servers and z Systems through APIs to support new payment, settlement, supply chain and business processes.”

Additionally, the computer giant will open IBM Garages in cities like Tokyo, New York and London to create environments that promote the design and development of new blockchain applications.

IBM stock is up 1.4% Tuesday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/02/ibm-bitcoin-blockchain/.

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