Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, Fintech, DeFi, Blockchain, Web 3 News

Blockchain: new transaction network will be developed by IBM and Wells Fargo

Tech and Financial Giants Back New Blockchain Consortium.


Bitcoin’s blockchain technology is being eyed by various major players in the financial and technology sectors. A new transaction network based on blockchain technology will be developed by IBM and Wells Fargo, as well as London Stock Exchange Group Plc.

By uniting forces with the Linux Foundation, the goal is to create a public network on which blockchain applications can be built to communicate with each other.

As part of this collaborative project, IBM will contribute tens of thousands of lines of existing code to this new project, and put several dedicated developers on the concept. Additionally, IBM will also share some of its intellectual property with the Linux Foundation and Wells Fargo to make this blockchain-based transaction network a success.

Linux Foundation executive director Jim Zemlin stated:
“As with any early-stage, highly-complex technology that demonstrates the ability to change the way we live our lives and conduct business, blockchain demands a cross-industry, open source collaboration to advance the technology for all.”

Source: Bloomberg


Chaineum est partenaire des rubriques blockchain de votre quotidien Finyear.
Pour lire tous les articles Finyear dédiés Blockchain rendez-vous sur www.finyear.com/search/Blockchain/

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