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IBM Praises Blockchain in New Patent Application

Tech giant IBM has outlined numerous advantages of blockchain-based technology and how it could improve the process of conducting scientific research in a recent patent application.

Blockchain Empowering Scientific Research

IBM has filed a patent application for a blockchain-powered system for collaboration where researchers can track their work across different fields such as analyses performed, data collected, experiments formed, results archived, and so forth.

According to the patent application, the system can be comprised by a blockchain which represents the project in hand, wherein the research data and the analysis performed on said data can constitute separate blocks.

The blockchain system can form a blockchain representing a research project, wherein the blockchain comprises a first block of research data and a second block of analysis data representing a log of an analysis performed on the research data. Summary blocks and correction blocks can also be added to the blockchain representing the post analysis of the research results. – Reads the Application.

Addressing the issues currently faced by the relatively small amount of similar solutions, IBM’s application outlines the following:

Platforms that do exist, lack the requisite controls and mechanisms to allow for trustworthy data, as there are few options for ensuring that data will be resistant to modification.

IBM’s March into the Field of Blockchain

The tech mogul is among the leading enterprises in the field of blockchain. According to the company’s General Manager Marie Wieck, IBM has around 1,600 employees which are working on projects involving blockchain technology.

Live Bitcoin News reported in April that the company is working on 400 projects with 43 clients, spread across different industries.

The company has also made its foray into the field of cryptocurrencies. Back in July reports started circling that IBM has teamed up with a fintech startup Stronghold working on a stablecoin pegged to the US Dollar and backed by the Federal Deposit Insurance Corporation (FDIC).

What do you think of IBM’s involvement in the blockchain field? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock


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