AsianScientist (Jul. 13, 2016) – IBM has announced plans to establish the first IBM Center for Blockchain Innovation in Singapore. Blockchain refers to software that stores and transfers value or data across the internet.
In a collaboration with Singapore government agencies, IBM researchers at the Center will develop applications and solutions which are based on enterprise blockchain, cyber-security, and cognitive computing technologies.
“Now with new cloud services that make these technologies more accessible, leaders from all industries are beginning to take note of the resulting profound and disruptive implications in a range of settings, including finance, banking, IoT, healthcare, supply chains, manufacturing, technology, government, the legal system and more,” said Dr. Robert Morris, vice president of global labs at IBM Research.
The first projects for the Center will focus on trade solutions using blockchain to improve the efficiency of multi-party trade finance processes and transactions.
IBM will also work with PSA Singapore Terminals, the world’s largest container transhipment port, and others to create a trade ecosystem that connects emerging financial technologies with the physical world of global trade and logistics.
The Center will be staffed with technical talent from Singapore as well as researchers from IBM Research Labs worldwide.
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Source: IBM; Photo: Shutterstock.
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