IBM has taken sides! The enterprise giant has weighed in on the crypto phenomenon, predicting that countries will embrace the cryptocurrency technology very soon.
In fact, the company has actually been meeting with executives from commodities trading platforms, large corporations and even central banks to explore what the future holds for these digital currencies, and how they can make use of the permissioned but public technology.
Jesse Lund, the newly appointed head of blockchain development at IBM, is at the forefront of this.
And he is aiming to popularize this interesting middle ground that has emerged, which promises that not only cryptocurrencies are here to stay, but they will go on to change the financial fabric of our world.
In a recent interview, Lund revealed that IBM is seeing tons of demand for digital asset issuance across the board, and this has caused the emergence of a new segment that could actually be one of the biggest segments.
A permissioned, yet public blockchain network typology.
This is interesting, because it is basically a middle ground between the mainstream camp that has always said that the while blockchain might be useful, cryptocurrencies are just a scam and should be shut down or controlled, and the other camp that considers them revolutionary.
Lund also revealed that central banks, primarily from countries in the G20 have inquired about digitizing their monetary system by creating a national cryptocurrency.
And although no country has publicly expressed plans to place monetary systems on the blockchain, he is confident that this is closer than it may appear. In fact, he expects we may see something this year, a central bank issuing a digital denomination of their fiat currency — in a controlled climate.
But this much is clear that IBM has positioned itself as a leader in blockchain and cryptocurrency, at a time when the technology industry is starting to pivot in this direction.
Interesting times, straight ahead.