IBM has joined the Chamber of Digital Commerce, the Washington, D.C.-based organization working to help shape the regulatory framework for the blockchain industry.
IBM has been closely monitoring the nascent technology and is working on products that would allow businesses to use it. Blockchain's adoption by companies would "greatly benefit from government participation," Jerry Cuomo, vice president of blockchain technologies at IBM, said in a news release Thursday.
"It is critical from a national competitiveness point of view for U.S. companies and government agencies to lead the world in understanding the potential of blockchain and putting it to use," he said.
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The latest blockchain technology initiative has IBM, Digital Asset Holdings, R3 and other tech companies working with banks, Swift, the London Stock Exchange and the Linux foundation to jointly create open-source software meant to be used to quickly bring new blockchain software to market.
December 17 -
IBM has released a set of blockchain cloud services built to meet security and compliance standards for companies in regulated industries particularly, financial services, health care and government.
April 29 -
Innovate Finance, a U.K.-based fintech industry body, will open a blockchain technology research lab in partnership with the government and IBM co-cofounded Hartree Center, a high performance computing and data analytics research facility.
September 14 -
The Depository Trust & Clearing Corp.'s Mark Wetjen has joined the board of advisors of the Chamber of Digital Commerce.
June 29
The chamber, founded in 2014, is a group of blockchain startups and software companies, IT consultancies, financial institutions and investment firms that work closely with policymakers and regulators to develop a legal environment that allows and fosters innovation and growth in the blockchain field.
IBM isy developing open-source blockchain-based software upon which financial services players can build their own blockchain applications, in collaboration with Digital Asset Holdings and the Linux Foundation. That project, the Open Ledger Project, is backed by JPMorgan Chase, Wells Fargo, State Street, ANZ Bank, Swift, R3, Cisco, Accenture, Hyperledger, Intel, London Stock Exchange Group, Mitsubishi UFJ Financial Group, IC3 and VMware.
