IBM using new Blockchain for Smart Contract System

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The Wall Street Journal is today reporting that IBM is planning to use a version of the Blockchain for use in a Smart Contract System. The research arm of Big Blue is said to be making the project code open source and will be released in the next few weeks.

Senior vice president Arvind Krishna, told the WSJ that the company’s blockchain system won’t have an internal currency and will be designed to “ensure that contract details remain private” while making it easier for companies to “embed business rules” into smart contracts.

With Barclays bank also adopting a form of the Blockchain for its online donation system and the recent launch of CryptoVoter using the Blockcahin for a secure voting system the number of projects building on Blockchain technology is growing.

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