We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
IBM to Focus on 'Fintech' with Blockchain Center in Singapore
Read MoreHide Full Article
International Business Machines Corporation (IBM - Free Report) announced plans to set up its first IBM Blockchain Innovation Center in Singapore. As a part of this development, IBM will be collaborating with Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS).
With help from these institutions, IBM will be working to develop novel applications and solutions related to enterprise blockchain, cyber-security, and cognitive computing technologies.
Blockchain is basically an ecosystem designed to create secure transaction ledger databases that can then be shared by the company, thereby eliminating the need to get reliable data externally (like from payment processors).
Initially, the center will be taking up projects on developing trade solutions specially to improve multi-party trade finance processes and transactions. These projects termed as ‘FinTechs’ will leverage innovation and technology to develop financial solutions, which will allow the country to establish itself as a Smart Financial Center. For this, the company will also be working with small- and medium-sized enterprises in Singapore.
Apart from this, IBM will also be collaborating with the Port Authority of Singapore for deploying financial technology to enhance trade and logistics.
As IBM puts it "This is IBM's first collaboration with the private sector and multiple government agencies within the same country to explore the use of Blockchain and cognitive technologies to improve business transactions across several different industries. Now with new cloud services that make these technologies more accessible, leaders from all industries are beginning to take note of the resulting profound and disruptive implications in a range of settings including finance, banking, IoT, healthcare, supply chains, manufacturing, technology, government, the legal system, and more."
Currently IBM carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader technology space are MeetMe, Inc. , Shopify Inc.(SHOP - Free Report) and Elli Mae Inc , all of which carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
IBM to Focus on 'Fintech' with Blockchain Center in Singapore
International Business Machines Corporation (IBM - Free Report) announced plans to set up its first IBM Blockchain Innovation Center in Singapore. As a part of this development, IBM will be collaborating with Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS).
With help from these institutions, IBM will be working to develop novel applications and solutions related to enterprise blockchain, cyber-security, and cognitive computing technologies.
Blockchain is basically an ecosystem designed to create secure transaction ledger databases that can then be shared by the company, thereby eliminating the need to get reliable data externally (like from payment processors).
Initially, the center will be taking up projects on developing trade solutions specially to improve multi-party trade finance processes and transactions. These projects termed as ‘FinTechs’ will leverage innovation and technology to develop financial solutions, which will allow the country to establish itself as a Smart Financial Center. For this, the company will also be working with small- and medium-sized enterprises in Singapore.
Apart from this, IBM will also be collaborating with the Port Authority of Singapore for deploying financial technology to enhance trade and logistics.
As IBM puts it "This is IBM's first collaboration with the private sector and multiple government agencies within the same country to explore the use of Blockchain and cognitive technologies to improve business transactions across several different industries. Now with new cloud services that make these technologies more accessible, leaders from all industries are beginning to take note of the resulting profound and disruptive implications in a range of settings including finance, banking, IoT, healthcare, supply chains, manufacturing, technology, government, the legal system, and more."
Currently IBM carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader technology space are MeetMe, Inc. , Shopify Inc.(SHOP - Free Report) and Elli Mae Inc , all of which carry a Zacks Rank #2 (Buy).
INTL BUS MACH Price and Consensus
INTL BUS MACH Price and Consensus | INTL BUS MACH Quote
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>