Beyond Bitcoin: Oracle, IBM Prepare Blockchains for Industrial Use


There’s been a lot of talk recently about blockchains beyond its original use for supporting Bitcoin. Earlier this year, we covered a session in London where the takeaway from the panel was there are too many problems to be solved. But that was in February, and a lot has changed since then.

Judging from some of the blockchain sessions at the recent Oracle OpenWorldconference, the emerging potential uses for blockchain are kind of staggering.

Blockchain uses a technology also described as a “distributed ledger.” That’s an obvious fit for finance, which is all about ledgers, but it turns out the distributed ledger concept can be applied to — well, to almost everything.

According to BlackBook Research, 70 percent of health insurance payers are planning to have blockchain integrated into their systems by the beginning of 2019. That’s 15 months from now. Among the payers with over 500,000 members, that number climbs to 98 percent, with 14 percent currently testing blockchain systems.

Read more at The New Stack