25 customers operate in the global trade, 14 in food tracking and 14 in global payments. Companies can use their permission blocks to have just part of the information viewable in public domain.
Walmart, Visa, HSBC, and Nestle are some of the IBM’s 63 blockchain clients according to their update to investors on Thursday. Together with these clients, some banks and trade companies are running IBM’s over 400 client blockchain projects in operation currently.
IBM recently partnered with other firms in the global shipping industry including Maersk and Du Pont for ongoing projects and tests. Its trade finance customers include Societe General, WeTrade, HSBC, Unicredit, and Santander. Their customers in the field of global payment include Visa, the Polynesian payments company KlickEx, EarthPort, Nab, BBVA, and CIBC.
Moreover, 25 companies operate in the global trade, 14 in food tracking, 14 in global payments. That list shows that blockchain is not just for startups but also for mature companies. It also means that seasoned firms are finding the blockchain helpful. For instance, a joint food safety blockchain project launched by IBM and Walmart. It enables the tracking of where specific produce originated in just a matter of seconds.
IBM’s blockchain products are built on top of an open-source blockchain called Hyperledger Fabric. This is a permission network where companies can choose to have part of the information publicly viewable and other locked with a password or with other mechanisms.
One customer on the IBM blockchain is Dow Chemical Company that uses the blockchain to record and store immutable receipts with partners to ensure no scammers. In that case, the company does not want the information viewed by its competitors.