In the last years, blockchain technology has offered to revolutionize several industries. But there are some companies that are ahead in the market compared to others. IBM, Microsoft and Accenture are the three most ahead. But which are the most important projects being developed by them?
IBM’s Blockchain Projects
One of the latest developments related to IBM and blockchain technology is related with a partnership that the company signed with CLS, a foreign exchange market infrastructure firm.
The main intention behind it was to create a proof of concept (DLT) platform designed for financial services companies. The LedgerConnect platform, as they’ve called it, will be applying blockchain technology to different areas and industries. We are talking about sanctions screening, collateral management, KYC processes and more.
The IBM’s LedgerConnect platform is hosted on a single network and aims to be used by different institutions to create a wide range of blockchain applications.
At the moment, there are nine financial companies working with the platform, including Barclays and Citigroup.
Microsoft and its Blockchain Strategy
Microsoft is one of the most important technology companies in the world. And it wants to remain in this way. This is one of the main reasons why it is experimenting with blockchain technology.
At end of June, the company signed a partnership with Digital China and Hot Cool to improve financial, ecommerce, entertainment and other industries by implementing distributed ledger technology (DLT).
This collaboration will combine Microsoft Azure Blockchain Workbench, Digital China’s Digital DADA and Hot Cool’s MSP.
Accenture Leverages DLT
Accenture is also playing an important role in the blockchain market. It wants to create real world applications and be a practical tool for companies to improve their services. For example, Accenture is working with Digital Asset, Ripple, Hyperledger, and many other companies in the crypto space.
The official site of Accenture reads as follows:
“Technology-based partnerships are the strategic ambition of every business, and every company’s technology architecture must evolve to met that ambition. A micro services approach empowers agility as applications become more modular, enabling rapid integration with many new partners. As each company’s portfolio of partners grows, this scale of connections means reimagining the way the business transacts with others, and blockchain is a major key to creating, scaling, and managing those relationships.”
By working with blockchain technology, companies will be facing the new challenges in an easier way, and Accenture, IBM and Microsoft know that very well.
Photo courtesy of Microsoft