IBM testing new blockchain service to track high-value supply chain

IBM testing new blockchain service to track high-value supply chain

Soon there will be real diamonds in the blockchain mines

For those industries where the origin matters, getting verifiable sign off has been a surprisingly tricky problem, particularly as goods change hands across an increasingly complex global supply chain. Blockchains, the technology underpinning Bitcoin and a variety of virtual currency, might help, and IBM has launched the new supply-chain focused IBM Blockchain to try and service that demand.

“Blockchain will change the way we transfer high value goods, digital assets and financial instruments. To accelerate blockchain adoption, clients must trust the infrastructure and the system that blockchain is running on,” Donna Dillenberger, an IBM Fellow, said in a statement. “With IBM Blockchain, we are expanding access to the emerging technology — not only by making it easy to get up and running on the IBM Cloud, but also by using the most secure infrastructure.”

One of their earliest customers is Everledger, a startup focused on helping securely track ownership and possession of diamonds and other high-value items.

"When you are in the business of provenance, secured records, access and transparency are everything. There is no compromise when it comes to security and one cannot underestimate the expertise required to enable this," said Leanne Kemp, chief executive of Everledger, in a statement. "Having the opportunity to build, test, scale and refine Everledger on IBM Blockchain, underpinned by a security-rich infrastructure, is a game changer. It has accelerated our ability to move fast and deliver the most innovative solutions to our partners internationally and confidentially."

 

 

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