Recently, IBM is trying to establish a community in the point-to-point network in financial services, identity and supply chain. It seems that it wants to explore the world of blockchain in the future.

In terms of financial services, IBM has created IBM blockchain world wire to help cross-border payments. Traditionally, cross-border payment transactions need to go through many intermediaries, which also increases the time and cost of transmission. However, blockchain technology allows these transactions to be completed instantly and at a much lower cost.

In terms of digital identification, IBM cooperates with securekey to jointly develop a digital identification system in Canada. The system allows consumers to develop digital identities that they can control. For example, the identity that has been verified by the bank can be used to assist consumers in purchasing new apartments or to create identification documents for new accounts in public affairs.

IBM has made two major efforts to help simplify the supply chain. One of them was that IBM partnered with Maersk to create tradelens. Basically, tradelens is a digital platform that can provide a single and secure source of transportation data for enterprises and management organizations in the supply chain, so as to achieve more efficient global trade. The second is to create a food trust focusing on agricultural products. Food trust is the only network that recognizes, perpetuates and shares records through food system data, which connects participants in the food supply.

What can blockchain do to maximize its value

To understand the current development direction of blockchain, people can better understand the future development path of blockchain from the development history of the Internet.

In the early stage of network development, it was just a network connecting research laboratories to reduce friction and increase collaborative cooperation. Later, it gradually evolved into an open “fence garden” service mode similar to CompuServe and America online, which connects the general public to a larger information network.

However, the key to truly show the value of the network is that after the lock of the network link is completely unlocked, it brings a new business model. For example, Amazon, Google and later Facebook all created new business models to enhance market opportunities. These enterprises are founded on the infrastructure, not the infrastructure itself, which has really changed the world.

At present, blockchain is similar to the fence garden stage of the Internet. Because the blockchain type established by IBM tends to focus on a single function, such as transfer, authentication or simplifying the supply chain. Of course, this seems useful, but when these single markets are integrated into the community, it is likely to release greater value.

In other words, the new business model of innovative community type blockchain is likely to give birth to the emergence of the next generation of large enterprises such as Amazon, Google or Facebook.

Responsible editor: CT

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