Blockchain is a technology for a new generation of transactional applications that establishes trust, accountability and transparency while streamlining business processes. A blockchain has two main concepts. A business network, where members exchange items of value through a ledger, which each member possesses and whose content is always in sync with the others. Leveraging blockchain for your IoT data offers new ways to automate business processes among your partners without setting up a complex and expensive centralized IT infrastructure. Blockchain's data protection fosters stronger working relationship with your partners and greater efficiency as partners take advantage of the information provided.
IBM today opened an incubator where 5,000 computer scientists will work to build rapid prototypes using the company's blockchain and Watson AI tools for businesses in the Asian-Pacific region. Called the Watson Centre at Marina Bay in Singapore, the incubator will also house Singapore's IBM Garage, which will specialize in building blockchain applications using the company's Open Standards tools. IBM Asia Pacific's chairman and CEO, Randy Walker, described the operation in a statement: "Watson and blockchain are two technologies that will rapidly change the way we live and work, and our clients in Asia Pacific are eager to lead the way in envisioning and creating that future." The IBM Garage is run as part of the company's Global Entrepreneur program. Launched in 2010, it is intended to help startups build distributed ledger applications using the IBM Cloud.
Spoiler alert: Big Brother actually is watching, but not in the way you think. These days every federal agency is connected through a wide array of devices and sensors that collect data on many aspects of their operations. With the help of IBM Watson Internet of Things (IoT), this data is helping customers lead healthier and safer lives, and helping businesses remain competitive and become more profitable. The key question: How can we turn that IoT data into opportunity? That exact question and many others were discussed at the recent Connected Government event in Washington, D.C.
A massive DDOS attack and weaknesses in critical systems have put security concerns front and center in the internet of things. IBM thinks a technology best known from the world of bitcoin could lock down at least one use of IoT. The company is using blockchain technology to ensure that everything's in order with IoT transactions. Just as a public blockchain makes bitcoin transactions traceable and verifiable, the private, cloud-based system that IBM will operate for enterprises will verify non-monetary interactions between some devices. The blockchain offering, part of IBM's Watson IoT Platform, was announced earlier this year.