IBM and Japan Exchange Group (JPX) announced an agreement to test the potential of blockchain technology for use in trading in low transaction markets.
Blockchain is a digital technology that helps securities trading organizations to significantly reduce the cost, complexity and speed of trading and settlement processes.
IBM will work with JPX to jointly evaluate how the IBM open source blockchain code, that has been proposed to the Linux Foundation’s Hyperledger Project, could be used for trading and settlement in low liquidity markets.
“Blockchain is one of the emerging technologies that is being closely watched by financial communities throughout the world,” saidAtsushi Santo, Head of New Business Development, Japan Exchange Group.
“We plan to explore blockchain fabric to evaluate technical limitations and the potential of blockchain for post-trading service for low volume traffic by fully utilizing IBM global resources including IBM Research, Tokyo.”
The IT major also announced that it has made nearly 44,000 lines of code available to the Linux Foundation’s open source Hyperledger Project to help developers easily build secure distributed ledgers that can be used to exchange most anything of value.
New blockchain services on the IBM Cloud helps create and manage blockchain networks to power distributed ledger applications
The company also plans to enable Internet of Things (IoT) data on blockchain, using its Watson IoT Platform.
Furthermore, to help accelerate the design and development of blockchain applications, IBM Garages will open in London, New York, Singapore and Tokyo.