To maintain a successful business, one thing is sure: always see what’s going on and update. If you do not, you will be like Nokia or even Yahoo. However, this is not the case for today’s tech giants like IBM, Microsoft, Lenovo, and Intel. They have been eying blockchain technology for the few last years. By the end of this week, it seems that the race of exploration is intensifying.
Microsoft: trying to be on the track
Back in 2018, Microsoft showed interest to the DLT as a new way for decentralized digital identity. This project was later frozen.
However, this week the leading tech-company had released the Azure Blockchain Service, which is mainly a BaaS [Blockchain-As-A–Service] platform that enables users to build their blockchain applications on a pre-configured network. In addition, to help the new developers who are building apps using the newly released service, Microsoft has also released a new extension: the Azure Blockchain Development Kit for the Ethereum blockchain. This release will be an extension to Visual Studio Code (Microsoft’s source-code editor). This is considered a huge step for Microsoft since it’s designed to help developers to build apps on the public Ethereum Network and enables them to use open-source blockchain tools such as Solidity and Truffle.
According to their announcement, the company stated:
“This proves even further the investment and dedication that Microsoft is putting forth towards the use of Blockchain ledger technologies in the Enterprise, or even on the public blockchain networks.
IBM: The company that never say enough
Compared to other tech companies, IBM is considered one of the early companies exploring and adopting the distributed ledger technology and digital assets. Actually, it started focusing on disruptive technology in 2015. As of now, the company took part in dozens of projects in different fields from the food industry and identity protection to global trade, cross border payments, and trade finance. As a result, the leading company has been partnering with several companies including Ford Motor Volkswagen, Nestlé, and Carrefour. Moreover, it has been releasing dozens of patents. In addition, many countries such that France, Russia, Saudi Arabia, and Emirates have been testing IBM blockchain services.
Lately, IBM Corporation joined the top financial institutions including JP Morgan Chase in order to create an effective payment DLT and cryptocurrency network system. The main aim of this project is to make transferring funds from one country to another very easy and simple, starting at first with around 75 crypto-friendly nations. Furthermore, the company is also collaborating with several non-US based banks including Busan, based in Korea, and RCBC, based in the Philippines.
Lenovo, taking IBM’s advice
One of the latest IBMs projects is its partnership with Lenovo, the Chinese multinational technology company, with a goal to apply blockchain to Lenovo’s customer service. As per this new announcement, IBM will focus on supporting Lenovo’s Data Center Group system network with the distributed ledger technology. The new partnership will help Lenovo in using blockchain technology to monitor hardware and software supply chain used in its data center.
The new agreement between the tech leading companies is just another milestone in the deep relationship between them, which eventually started when Lenovo acquired IBM’s personal computer business back in 2005. In fact, a few years ago, exactly in 2014, Lenovo acquired IBM’s server business in a $2.3 billion deal.
With more tech giants joining the crypto scene, we are now certain that the blockchain technology will be more adopted by different businesses in several fields. This implies a boost in digitalization.