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External Partners Alumni Search Submit Return to home Search Search About About Olin Home Why Olin Equity, Diversity & Inclusion Leadership & Strategy News & Media Events Contact Us Programs Programs Home Explore Our Programs BS in Business Administration MBAs Specialized Master's Doctoral Executive Education Dual Degrees Faculty & Research Faculty & Research Home Faculty Directory Research Research Centers Olin Brookings Commission Olin Award Student Resources Student Resources Home Career Services Center for Experiential Learning Entrepreneurship Academic Calendars Student Organizations For Current Students For Military Veterans Admissions Admissions Home Scholarships & Aid Attend Program Events Visit Olin Ask a Student Student Profiles Request Information Refer a Candidate External Partners Alumni Blockchain 101: The IBM Perspective January 12, 2018 By WashU Olin Business School 1 minute read Home News Blockchain 101: The IBM Perspective Blockchain is an emerging technology that has the potential to create a paradigm shift in the way we think about financial transactions.&＃160;It has the ability to record transactions via a shared ledger and can be applied across many industries and currencies.&＃160;The first major application of blockchain was Bitcoin, an unregulated cryptocurrency that was very resource intensive to mine.&＃160;But business applications for blockchain will likely differ in several key areas. At The Boeing Center&＃8217;s 9th annual Industry Conference in October, Ed Corno, Client Technology Leader at IBM, gave a presentation on blockchain from the IBM perspective.&＃160;He claimed that the technology&＃8217;s business applications will focus on identity over anonymity, selective endorsement over proof of work, and assets over cryptocurrency. Corno defines the four key tenets of a shared, replicated, permissioned ledger (as characterized by blockchain&＃8217;s business applications) are consensus, provenance, immutability, and finality.&＃160;This shared ledger would serve as the one record of all transactions across the business network, and participants would be able to see only relevant transactions. According to Corno, the requirements of blockchain for business are the aforementioned shared ledger, a smart contract embedded into the transaction database, the privacy to ensure that transactions are secure and verifiable, and trust between all participants. Blockchain 101 Ed Corno gives a presentation at The Boeing Center's 9th annual Industry Conference on blockchain from the IBM perspective. Play video About the Author WashU Olin Business School Firmly established at the Gateway to the West, Olin Business School at Washington University in St. Louis stands as the gateway to something far grander in scale. The education we deliver prepares our students to thoughtfully make difficult decisions—the kind that can change the world. Contact Us For assistance in finding faculty experts, please contact Washington University Public Affairs. Monday&＃8211;Friday, 8:30 to 5 p.m. Sara Savat, Senior News Director, Business and Social [email protected] &＃160; Kurt Greenbaum,Communications [email protected] Twitter: WUSTLnews Share article Apply Now Visit Us Request Info One Brookings Drive, St. Louis, MO 63130-4899 [email protected] 314-935-7301 News & Media Events Faculty Directory WashU Center for Career Engagement Washington University home Olin Links Sitemap Privacy Policies Title IX Accessibility ©2024 Washington University in St. Louis