IBM’s Food Trust Network blockchain solution
In this series, we’ve discussed the blockchain market’s growth potential and the competition IBM (IBM) is facing in the market. However, IBM is doing pretty well with winning new contracts for its blockchain solutions, namely its newly launched Food Trust Network, which tracks food items in companies’ supply chains. Carrefour, one of the world’s biggest retailers, recently joined the network, and IBM already provides blockchain technology to major retailers Tyson Foods (TSN), Kroger (KR), Unilever (UN), and Walmart (WMT).
IBM’s blockchain solutions for financial services and shipping
In July, IBM launched a blockchain solution specifically for the financial service industry, LedgerConnect. Barclays (BCS) and Citigroup (C) have adopted the solution. IBM also partnered with shipping giant Maersk to launch a blockchain shipping solution, TradeLens, which IBM reports has been adopted by 94 organizations.
These efforts are making IBM a leader in the blockchain market. According to Juniper Research and as the chart above shows, about 43% of the organizations surveyed ranked IBM as their first choice for blockchain technology. Microsoft (MSFT) came second, with 20% of organizations preferring it for blockchain technology.