The Corporation plans to implement on blokcheyne technology that allow the company to more effectively deal with litigation at a lower cost. This is the first project of this magnitude.
IBM Global Financing is the world's largest IT company that provides its customers with solutions for rapid growth. They finance the computer equipment, software, IT services. The company expects that the introduction of block chain technology will help them to facilitate the process of solving cases and will reduce financial costs.
"... In the year we are faced with approximately 25 thousand in lending disputes, and it holds cash, in some cases, this is a very large sum of ... $ 100 million at any time can get stuck in what some proceedings. Litigation should not last 40 days, the process has become more efficient, "- says the vice-president of technology blokcheyn Gennaro Cuomo in an interview CoinTelegraph.
Earlier this year, IBM demonstrated the feasibility of the concept of the chain block in the litigation. They brought in a common register of their transactions on credit over the past two years and tested the speed of resolving disputes through technology. According to the experiment results, it took up to 10 days on average to bring a court case to end.
IBM approaches to the study of blokcheyn technology from three sides: a community cloud services and clients. The company monitors the technology within the project Hyperledger Linux Foundation, and intends to support it, serving its client services through the cloud, as it saves time to their clients. In addition, IBM uses a distributed registry for these new areas like supply chain, audit and customer acquisition. They have launched a service for IBM Garage developers, which helps companies to create convenient application using IBM Design Thinking. This service is a useful tool to attract customers and supports the work of the distributed database technology worldwide. The company has centers in New York, Singapore, London, and Tokyo, where IBM is working with clients in the design of block chains.
"Blokcheyn captured the imagination of many banks and financial institutions, stock exchanges, etc. The technology will allow them to make transactions immediately instead of the usual three days. Now all of this is real and is within the capabilities of a distributed database. I would say that the more diverse audience community blokcheyn, the longer it will take the process of introduction of technology, however, now a lot of starting points, which in my terminology, I call to the moon, things that should definitely strive to take ... "-. Gennaro Cuomo claims.
Previously, the company announces the launch of a new platform based on LinuxOne server, which will allow companies to test a distributed registry in the supply chain. Starting beta expanded range of use of technology by IBM, which actively explores blokcheyn direction, providing new services in the B2B area.
