IBM has long been at the head of technological innovation, continually pushing for the best technology has to offer society for the better part of 100 years. It seems that the firm’s drive for the creation of technological breakthroughs has led it straight to blockchain technologies, which is arguably the fastest growing space in a multi-trillion dollar market. While the blockchain industry remains in its infancy, the technology-focused firm has begun to heavily allocate resources to its growing decentralized technology division.
IBM’s capital allocation to its blockchain branch might not be well spent, bringing attention to Stripe’s (relatively) measly $3 million seed investment into Stellar, which we now know as one of the most influential networks in the cryptosphere. Reporters divulged that less than 1% of company executives in a survey revealed that they had introduced blockchain tech into their systems. Although this dismal figure is not the fault of IBM alone, it goes to show how blockchain-based systems may still not be ready for mainstream adoption.
Blockchain may be costing IBM a hefty sum, but maybe its all a part of the firm’s long-term plan for continued domination over the tech sector, while also remaining a forefront for innovative technologies to better humanity.