Enterprises in financial services, education, and health care see the tremendous potential behind the blockchain technology — the one powering Bitcoin and other digital currencies — but have been held back because of regulatory and data security concerns. IBM took the first step toward making blockchain ready for business with a new framework and service offerings for IBM Cloud.
Blockchain isn’t just for Bitcoins and other digital currencies, as its public ledger system can be used to record any kind of transaction. The ledgers are stored concurrently in multiple locations and the entries are cryptographically signed to prevent anyone from modifying them. Blockchain provides an auditable trail of all the transactions and removes the need for a trusted middleman to oversee them. Consider the benefits for real estate, financial, contracts, and even health care.