We spoke with Chris Ferris, Chair of Hyperledger’s Technical Steering Committee, and CTO of Open Technology at IBM.
Blockchain is already changing how IBM does business with its Global Finance System. It is a $4B system and at any time about $100M is in dispute but IBM has reduced that down to $40M by applying blockchain technology.
According to Chris, blockchain will help drive process improvement for their customers’ business interactions, and could have meaningful change in how those processes actually work. The collaboration IBM gets in Hyperledger’s very diverse community is the biggest advantage. It’s not just technologists, there’s leaders from finance, supply chain, automotive, and even aerospace. Chris believes it’s the diversity of thought, technologies and use cases that are the best aspect of participating in Hyperledger.
You can watch the full interview here: