IBM's Blockchain Efforts Are Gaining Momentum

Cryptocurrencies like bitcoin may eventually crash and burn, but the underlying blockchain technology looks like it's here to stay. Exactly how transformative blockchain turns out to be is up in the air, but companies big and small are jumping on board.

International Business Machines (NYSE: IBM) may seem like an unlikely leader in this emerging area. But the century-old technology giant, years deep into a broad transformation and looking to shed its image as a dinosaur, is putting its weight behind blockchain. The move makes sense – blockchain is particularly well suited for use in the financial services industry, and IBM counts major financial institutions as longtime customers.

The ultimate blockchain winners and losers likely won't be determined for quite some time. But IBM's blockchain efforts seem to be gaining momentum.

Source: Fool.com