IBM Corp. has introduced a new blockchain platform that uses the blockchain to verify transaction data for businesses, including those that use it for stock trades.
The company’s new platform, dubbed “Blockchain for Business,” is available to businesses and governments across the globe.
It will be launched later this month and will be made available to all users, IBM said in a blog post Monday.
Blockchain is a blockchain that allows transactions to be confirmed in real time without the need for a central server.
It allows for transparency in business transactions and can also prove ownership of a property by a digital signature.
The platform also has the potential to make the transfer of value more secure by allowing for a blockchain-based record of ownership of assets.
IBM said the new platform will be compatible with IBM Blockchain, the cloud-based platform used by its IBM Data Platform, which provides services to businesses.
IBM is the second technology company to announce plans to release blockchain-related products.
On Monday, Amazon unveiled a cloud-powered blockchain-powered business application, called “Payment and Account Management,” that can be used to secure and manage customer payments.
IBM also is developing its own cloud-connected blockchain application called “Cloud Blockchain” that will allow businesses to integrate blockchain with their own systems.
IBM and Amazon have not yet announced pricing or availability for the new platforms.
The announcements come at a time when more and more businesses are beginning to use blockchain to automate processes.
Companies such as Facebook, Netflix, and eBay have begun using blockchain to manage payments and transfer funds between each other.
IBM has also been working on its own blockchain platform for financial institutions and credit unions.
IBM recently announced plans to launch a cloud platform called “BlockChain for Business” that it said will be a part of its Cloud Platform for Business suite.
IBM, which also is launching a new enterprise-class blockchain-enabled database platform, “BlockTree,” in 2018.