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Cryptocurrencies

IBM opens blockchain-powered IoT office in Germany

Wednesday 5 October 2016 | 10:26 AM CET

IBM has announced plans to invests USD 200 mln to fuel its internet of things (IoT) efforts and to open up a blockchain-powered IoT office in Germany.

The technology company is opening a new office in Munich with 1,000 employees to work on its IoT, blockchain, and AI initiatives. IBM is also a founding member of the open-source Hyperledger project and has emerged at the beginning of 2016 as a strong advocate for the technology. It has since pursued a variety of projects involving blockchain, from dispute resolution systems to cloud-based security frameworks.

Furthermore, IBM highlighted its work with Kinno, a Finnish company that is using IBM’s blockchain-infused IoT tools to develop supply chain tracking capabilities. Kinno is developing a solution that tracks, monitors, and reports on container status and location, and optimizes packing and transfer of shipments through shipping lanes. 

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