IBM Files Another Patent For Blockchain Tech
IBM recently filed a patent which fixes vulnerabilities of internet of things protocols through proof of work. It was published on April 26th.
“A method, comprising: determining a proof-of-work via an [IOT compatible] device; using a predefined set of nonce values when determining the proof-of-work; storing the proof-of-work on a blockchain; and broadcasting the proof-of-work as a broadcast message.”
The big thing to note here is IBM’s idea of restricting the nonce to a range of values. It suits devices connected to internet of things, as they have low computing power.
IBM seems to be one of the first big organizations to start to develop blockchain technology. They are building up a collection of patents in the tech, and are in a key position to dominate the industry.
IBM’s old business model became obsolete in the 2000s, but with IBM Cloud and Watson, they are having a comeback. I wonder if blockchain might be part of that plan?
IBM’s patents have been mainly focused on Internet of Things applications of blockchain tech. This is definitely a big market, and suits IBM’s experience in working with businesses. They plan to apply these IOT-enabled blockchains to energy, supply chain, logistics networks, and more.
The use-cases for IOT blockchains are endless, and IBM’s breakthroughs are bringing us one step closer to the creation of them.
Neah, they did not became obsolete, just not so popular for the wide public, they are everywhere actually. From wikipedia:
They seem to be pretty big yet. It is great that such a great player is interested in blockchain and how to apply it to their products!
Yes, but they needed to change their business model, which they did. I will edit the post to clarify.
okay, no need to edit your post, but I just wanted to know that we are on the same track. Valuable post you got here!
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