IBM will announce its plans for developing blockchain, the distributed ledger technology underpinning bitcoin, on Tuesday, according to a report by the Wall Street Journal, as the company seeks to take a lead on what could become a revolutionary technology.
IBM’s CEO Ginni Rometty will reportedly announce details of the company’s plans to advance blockchain technology at a conference Tuesday, including plans to test its own version of the blockchain software during 2016 and its ongoing collaboration with the Hyperledger project.
IBM is among a number of companies that have contributed code to the Hyperledger project, which is run by the Linux Foundation, and seeks to build an open source repository of blockchain code that will address current gaps in technology.
“The Hyperledger Project is a collaborative effort to focus on an open platform that will satisfy a variety of use cases across multiple industries to streamline business processes,” the foundation said in a statement. “Peer-to-peer in nature, distributed ledger technology is shared, transparent and decentralized, making it ideal for application in finance and countless other areas such as manufacturing, banking, insurance and the Internet of Things.”
IBM also said that it will help its own customers implement blockchain technologies and