Mumbai: Tech giant IBM is seeing several uses for Blockchain – the technology behind Bitcoin cryptocurrency – in the financial sector. Besides identifying it as a cost-efficient method of conducting transactions, IBM sees this as an alternative to one-time passwords in the long run.”We are committed to Blockchain technology. Releasing the code and making it available on the Linux platform is a start for us. Once developers take it on, then you will have use cases identified. Once the ecosystem is in place, then we expect that some of the players involved with clearing transactions will be the first to take it on,” said Vaibhav Khandelwal, Trusteer leader, IBM. Trusteer is a security software firm founded in Israel and acquired by IBM in 2013.Khandelwal said that a blockchain hackathon was in the offing although a date has not yet been fixed. “We have been working with the entrepreneurs and we see more engagement with the developer community,” he said.
http://asiagolfonline.com/finance/ibm-promotes-bitcoin-tech-for-banks/2296
