Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to a study.
Big Blue has been making considerable steps forward with research and development projects aimed at broadening the scope of distributed ledger technology to include industries other than the financial services.
According to research firm Juniper Research, the corporation is better positioned than competitor Microsoft as far as its blockchain credentials are concerned.
More than 40 percent of tech executives and leaders in the blockchain sector ranked IBM as top, with only 20 percent saying the same of Microsoft.
A blockchain is a huge decentralized log of data spread across numerous locations. It secures the data through encrypted ‘blocks’, accessed via a peer-to-peer network.
The purpose of the original blockchain was solely financial, serving as a distributed ledger for bitcoin transactions.
In July, Juniper said that more than half (57%) of the world’s large corporations are considering the deployment of their own blockchain solutions.
The race towards building distributed ledger solutions has become increasingly heated, with EY announcing its own platform aimed at securing insurance for the shipping industry earlier this month.