IBM Invests $200 Million in Blockchain and IoT
IBM’s previously announced its work intersecting blockchain and Artificial Intelligence (AI) is taking steps with the establishment of a new office in Germany.
The announcement is in line with a broader technology push initiated by IBM this week, with the aim of investing $200m to fuel its internet of things (IoT) efforts. The new office in Munich is to spearhead the initiative, its Blockchain work on connected devices, and much more.
IBM is among the founding members of the open-source Hyperledger project, stated their support for Blockchain technology last year. It has since pursued a variety of projects involving the technology, from cloud-based security frameworks to dispute resolution systems.
With the projected $200m in hand, IBM is likely to staff its Munich office with more than a thousand employees. Here is what the company said:
IBM also highlighted using IBM’s blockchain-infused IoT tools to develop supply chain tracking capabilities in collaboration with Kinno, a Finnish firm. The company further stated:
“Using Blockchain, Kinno is developing a solution that tracks, analyzes, and reports on container location and status and optimizes packing and shipments transfer through shipping lanes.”