IBM Embraces Blockchain for Banking: Is Amazon in the Game Too?
IBM recently announced the creation of LedgerConnect, a Blockchain powered banking service. This is an interesting move for a company that previously seemed to waver on whether it wanted to associate with this technology most famous for its links to cryptocurrency. However, the pairing actually makes sense, as we discovered in a recent IT Pro Portal story, “IBM Reveals Support Blockchain App Store.”
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he Agricultural Bank of China has started issuing large loans using the technology. In fact, out of the 26 publicly owned banks in China, nearly half are using Blockchain. IBM looks pretty conservative when you think of it like that, which is just where IBM likes to be.
Amazon supporst Ethereum, HyperLedger, and a host of other financial functions. For how long? Years.
Phi Beta Iota: Years above means not decades. Amazon is doing to Ethereum (and all its other clients) what it did to Netflix: studying them and experimenting with the client data (that the client is paying Amazon to keep sacred) while developing superior evolutions of the underlying code that fit in with the Amazon predatory behemoth that will eventually put IBM, Oracle, and everyone else out of business. Amazon is betting that the US Government will not break up its predatory monopoly until it hits its trillion dollar valuation mark. The Big Box Swindle on digital steroids, merged with “hacking” client data at client expense, has left the train station and is well down the road.