IBM to assist SBI SECURITIES for testing blockchain technology

IBM booth
IBM today said it will assist SBI SECURITIES for testing the usage of blockchain technology for the adoption of blockchain technology in the financial trading area.

IBM will assist SBI SECURITIES to deploy blockchain technology for securities operations commercially available in the future.

SBI SECURITIES intends to verify the potential of applying blockchain technology to bond trading operations, scrutinize barriers or complexity in using the technology for its operations, and prepare to apply the technology to actual operations.

SBI SECURITIES will be using the Hyperledger Fabric for testing the product cycle of registering a bond until its reimbursement; efficiency and automation of operations by sharing databases; reduction in infrastructure costs by sharing; for substituting the existing operational processes; and evaluating blockchain technology for securities operations and systems.

“This test aims to scrutinize barriers or complexity for practical use, develop a plan for deployment, and accumulate knowledge through applying blockchain technology to our products,” said Hiroyuki Ogawa, executive officer of SBI SECURITIES.

IBM Japan will support SBI SECURITIES by providing access to its global resources including IBM Bluemix Garage for Blockchain in Tokyo, IBM Consulting Services and IBM Research expertise in Japan.

It’s expected that blockchain networks will be utilized by financial services, supply chains, IoT, risk management, digital rights management and healthcare segments.

editor@infotechlead.com