IBM executive says blockchain becoming a useful 'real business tool'

As the blockchain space has matured, more companies have started to view blockchain less as a technology and more as an important business tool for digitalization.

Cointelegraph had the pleasure of speaking with Rennie to learn more about the evolving enterprise blockchain landscape, how blockchain is playing an important role in IBM's hybrid cloud strategy, and why "Big Blue" firmly agrees with the principles of private, permissioned networks.

Alistair Rennie: Now that blockchain has been in the marketplace for a reasonable number of years and we've worked on hundreds of networks, we are wondering where blockchain fits in within the enterprise digitization journey.

"Blockchain doesn't have to be a complicated, long-time project. That being said, we are mainly working on blockchain becoming the fundamental component of our hybrid cloud platform for collaboration and trust."

CT: Can you talk more about the role blockchain will play within the IBM hybrid cloud platform?

Blockchain turns out to be a fast way to integrate business data, while using smart contracts for automation of workflows.

CT: How is the IBM hybrid cloud platform different from what IBM Blockchain has already been providing to clients?

The IBM hybrid cloud offering also packages everything an organization needs to easily create a blockchain network.

CT: Would IBM ever consider creating a public blockchain for enterprises to leverage?

AR: The principles that we have in place show that IBM cares a lot about blockchain networks that are permissioned and private yet manageable to the people running them.