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IBM Prepares to Converge Public and Private Blockchains

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International Business Machines Corporation (IBM) is responding to public demand for the issuance of digital assets, to create a ‘permissioned but public’ blockchain network.


IBM has committed so many resources and time into the blockchain space, offering a commercial platform for developers and companies that are interested in experimenting and working with the technology. IBM is of the strong opinion that blockchain can change the way supply chain, governance and business, and other industries are run.

IBM to Introduce Quantum Computing

Though the concept of quantum computing is not yet globally understood, IBM is a step ahead in terms of development, and is now fully ready to introduce it for the benefit of new companies. On Thursday, the tech giant announced that it was set to make its quantum computers accessible to an array of startups in different fields, to enable them make use of the expensive but highly advanced technology, while at the same time helping IBM speed up its modernization in the quantum computing ecosystem.

IBM Quantum Computers to Be Tested

During the first IBM Q Summit in Silicon Valley, the tech firm disclosed the names of the first startups that would be integrated into the IBM Q Network and be given cloud-based entrance to the company’s real quantum computers, as well as other resources. With this access, the startups would have opportunities to perform quantum computing experiments, test the potential of the IBM quantum computers, and pool resources together with research from IBM and other IBM Q Network organizations, in order to further develop their quantum computing projects.

Speaking in an interview recently, Jesse Lund, the new head of blockchain development at IBM, said that there was “tons of demand for digital asset issuance across the board” and this had led to “emergence of a new segment that could actually be one of the biggest segments, that is a ‘permissioned’ but public blockchain network typology”.

He concluded by saying,

We’re going to see a lot more convergence between those two ends of the spectrum. 

Fear and Doubt Remains

This new technology is evolving, but is yet to be fully embraced by cynics, who are still expressing concerns over the incessant data leaks, hacking, and other flaws online. Though blockchain technology is already being embraced by a vast populace, there are doubts as to whether this unregulated and highly volatile asset can truly address the security issues that characterize online transactions.

Image Credit: Deposit Photos

Do you think this is a laudable project that can help the blockchain industry? Please share your views using the comments section below.

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