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IBM demonstrated its blockchain use cases in the region at the Blockchain Summit Latam

November 5, 2020

In one of the final presentations of the third session of the Blockchain Summit Latam 2020, which took place this Wednesday, November 4th, we had the opportunity to meet Martin Hagelstrom, IBM’s Blockchain Leader for Latin America, in a presentation entitled “The IBM -Developments Latin America “, where we want to learn about the use cases that the company has developed over the past few years.

“The hype is over”

As a starting point, Hagelstrom stated that the “hype” about blockchain technology is over and that it is no longer viewed as a fashionable technology at the corporate level. He stated that the belief that blockchain can solve every problem facing humanity is over. Far from believing that this looked bad, however, he noted that the same could be viewed as something very positive.

In his view, with the blockchain we can now see real use cases where it offers real value and differential, which implies that we are moving into the maturity phase where we are solving real problems for the business.

IBM demonstrated its blockchain use cases in the region at the Blockchain Summit Latam
IBM demonstrated its blockchain use cases in the region at the Blockchain Summit Latam

He added that while we can claim that the blockchain emotions are over, he still sees data such as that 80% of companies are hiring or wanting to hire people with blockchain technology skills in the next 12 months or that this is still the case is increasing blockchain technology as a goal for many companies.

Use for the region

After emphasizing the need for companies to rely on the blockchain and mentioning the efforts they have made as a technology company to deliver solutions through Hyperledger that are designed and customized for the enterprise level, the IBM representative began to address some of the aspects to explain the projects they have worked on in the region.

More specifically, Hagelstrom stated that the uses were presented in four broad segments, namely identity, fraud, traceability, and reconciliation and dispute resolution.

Regarding the well-known IBM Services, he pointed to the growth that Food Trust, a federated blockchain for the food sector, was being used by large department stores, as well as fruit, coffee and fishermen producers in various countries of Latin America. TradeLens and its use in various Latin American docks and ports also became known as one of the use cases in the region.