IBM Blockchain Platform now live in Melbourne
In exciting news today, IBM has made their blockchain platform available from it’s location in Melbourne, which will allow customers to run their projects from the company’s cloud. In addition, the platform will also be available from the data centre in Sydney in March. IBM’s blockchain platform is based of Hyperledger Fabric Inc, an open source project from the Linux Foundation.
This adds a number of opportunities for blockchain developers in Austraila, as data never crosses physical borders and provides security that will set the stage for government agencies and financial services to take part in. Big Blue has already made the platform available from it’s centres in London, Frankfurt, Toronto, Dallas and Sao Paolo. Rupert Colchester, head of blockchain and consulting pratices leader in Australia and New Zealand, had the following to say:
this reflects the progression of major production-grade projects through the world, including in Australia. Customers who are deploying blockchain applications have reached a maturity of projects that requires the data to be stored in Australia. In Australia, the most common use case for blockchain is in the supply chain. In the world of financial services … the reality is financial services was probably always the forerunner in blockchain applications in business, exploring the potential applications on the likes of digital identity and tracking financial trade.
This helps to show the potential that IBM sees in blockchain. Combine that with some of the investments of other large platforms, like Amazon and you see how quickly the mainstreaming of blockchain use in business and beyond will be. From banks, to supply chain, to personal info, blockchain is seeing real world adoption and valuable use cases start to pop up. As a part of this CSIRO’s Data61 announced a partnership with law firm Herbert Smith Freehills in August to create a blockchain based legal contracts network on the IBM Blockchain.
Not only will a company be able to manage all the stages of a contract but will also allow Australian companies to store contracts running within Australia only, with data not passing outside the country. For government and financial regulation, data staying within their borders makes implementation easier and quicker, due to regulations. With the creation of these blockchain projects, we see the enormous value to the supply chain industry, for instance, being able to track food from farm to plate. All of these models, legal, supply chain and others provide a foundation for easier regulation but also for a much higher level of transparency. All of these projects types that are being enacted in Austrailia are models that can easily be reproduced around the world. With large tech organizations now wading into the blockchain arena with money, resources and tools for developers to use, diffusing this technology through all walks of life will happen much more easily and quicker. Not to mention easier and quicker adoption, government regulation, acceptance and support will also come as a result.
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