Can IBM Really Make a Business Out of Blockchain?

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On Tuesday, IBM announced the formal launch of a so-called “Bluemix Garage” in New York, where developers can experiment with financial-tech software and explore new forms of blockchain innovation. 

According to Jerry Cuomo, vice president of blockchain and cloud at IBM, the plan will succeed because the company offers a full-suite of tools that allow developers to get up and running quickly while also benefiting from a mentoring environment at the Bluemix Garage. 

While the initiatives Cuomo described may pan out, the most important choice by IBM will likely prove to be its decision to embrace an open-source development model. Specifically, it is a big contributor of code to theHyperLedger project, a joint collaboration that also involves IntelCisco, and JP Morgan, and it is being shepherded by the Linux Foundation.

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