Corporate computing giant IBM has teamed up with financial institutions like JP Morgan, the London Stock Exchange and Wells Fargo as well as a handful of top tech companies like Cisco and Intel to create an open source Blockchain.
According to a few media reports, the project is being called Open Ledger Project and it will be managed by the same non-profit foundation that runs the Linux operating system, the Linux Foundation.
Talking to Fortune about the Open Ledger Project, Jerry Cuomo, Vice President and Chief Technology Officer of IBM’s software group, commented that “I think bitcoin is an interesting application for blockchain, but there are thousands of applications and wider use cases beyond that.” “I don’t have a strong opinion on cryptocurrencies, but I have a strong opinion on the blockchain as a solution for contracts and supply chains and the Internet of Things,” he added.
http://paymentweek.com/2015-12-21-ibm-led-open-ledger-project-may-change-the-financial-world-for-good-9197/
