Perhaps it was only a matter of time before blockchain found its way into the mainstream. And that time appears to be now -- IBM has launched a new blockchain platform called LedgerConnect, designed to be an all-inclusive service for large financial institutions to apply blockchain technology into their day-to-day business operations.
Some of the world's biggest banks are increasingly interested in how they can use blockchain to improve the way they do business, and now IBM is offering a solution with LedgerConnect. So far, nine financial institutions have signed on to test and engage with the technology, underscoring the deep interest in the industry. IBM and large financial institutions alike are hoping to use the technology for trade settlements, customer security, derivatives post-trade processing, and reconciliation and market data.