IBM today announced that it has chosen 10 blockchain startups which will be joining its Blockchain Accelerator Program. One of these startups is Securitize which is a compliance platform and protocol for issuing and managing digital securities on the blockchain.
In a blog post, IBM said that blockchain depends on building and scaling business networks. That’s why the tech company invested in emerging networks such as IBM Food Trust and TradeLens. Both of which are in early adoption and already, IBM is seeing potential for growth. IBM however believes that there are other blockchain startups out there which are waiting to be discovered.
That’s where the IBM Blockchain Accelerator Program comes in. Specifically the program is tapping on these startups with the hopes that if they get it right, the result will be beneficial to the blockchain industry.
So, which are these lucky startups which will received tremendous support from an established company such as IBM?
- Lucidity – a blockchain-based analytics company for digital advertising
- TigerTrade – international B2B marketplace for trading excess retail inventory
- Phunware – recently listed on NASDAQ, it’s Loyalty blockchain program focuses on Fortune 1000 brands
- Connecting Food – provides digital solutions to create transparency in the food supply chain
- Ferrum – Canada’s first blockchain equipment lease financing company
- Bandwagon – blockchain-based ticket authenticity and fan identity management
- IPwe – blockchain-based patent platform
- MetaMe – a universal wallet and SmartData marketplace
- Credly – collaborating with IBM on a blockchain-based learning and professional credentials network
And finally, Securitize, a compliance platform and protocol for digitizing securities on the blockchain. According to Carlos Domingo, co-founder and CEO their goal in joining the IBM Accelerator Program is to build the world’s first debt issuance platform with blockchain technology in 2019.
He told Forbes:
With the aid of IBM, we hope to modernize the $82 trillion dollar corporate debt market – which is currently riddled with inefficiencies and high fees – with blockchain technology.
Securitize is eyeing the integration of Hyperledger, an open source collaborative effort hosted by Linux into the product design of their platform. This will facilitate debt issuance on the blockchain.
It would be interesting to see which of these startups will scale once the IBM Accelerator Program which will run for three months, has ended. Aside from Securitize, MetalMe and Lucidity look promising. But who knows? With the help of IBM, all 10 startups might actually realise their potentials.