IBM Invests Much in Blockchain Project

With a growing interest in the distributed ledger technology, tech giant IBM has recruited more than 1,600 people to engage in blockchain related projects.
Nowadays, only 1% of the interviewed enterprises adoptd blockchain technology, and 8% of the interviewed enterprises said that they will plan or launch a pilot project in the short run, according to the report from Gartner, a well-known market research company. Up to 77% of the respondents pointed out, they are not interested in blockchian technology at all, and formulate no plan to try this technology.
However, blue giant IBM took a opposite stance. Its blockchain business general manager Marie Wieck disclosed, they have employed around 1,600 people to explore blockchain tech projects, leading its industry rivals in both investment and resource layout. And this figure drew the attention of Barry Silber under Digital Currency Group. They estimate that IBM's spending on blockchain project amounts to USD 160 million if the annual salary is calculated on the basis of USD 100,000 per capita.
IBM is taking the initiative to cooperate with partners in the industry. Recently, it joined hands with foreign exchange giant CLS to launch a distributed ledger app store. This app store is in the test phase, and world-renowned banks, including Citibank and Barclays Bank, have started their test.
Additionally, this tech giant has also started a try in the cryprocurrency industry. This July, it announced the establishment of a partnership with financial startup Stronghold, launching the Stablecoins pegged to USD.