What is blockchain, and can IBM, Intel, and big banks use it to remake the internet?

TheTaoistTroll Tue, 12/22/2015 - 16:06

What is blockchain, and can IBM, Intel, and big banks use it to remake the internet?

Linux was once thought of as the ugly duckling of OS world, an indulgence appealing only to system administrators, power-users, and shut-ins. Today, the Linux kernel underlies Google’s Android OS, the most widespread mobile platform in the world, and when the Linux Foundation announces a new open source initiative, the biggest companies in the world take notice.

The group has made its latest such announcement, that it will direct a powerful group of industry leaders in developing and supporting an open source standard for blockchain technology. Dubbed the Open Ledger Initiative (OLI), the just-revealed group already counts tech giants like IBM, Intel, Mitsubishi, and Cisco among its members, along with financial institutions like J.P. Morgan, Wells Fargo, and the London Stock Exchange.

If it takes off, IBM thinks blockchain technology could finally bring the internet economy into the 21st century, realizing the potential for decentralization that the internet has been teasing for so long. To explain why such a diverse group of investors and research partners is interested in making sure it does take off, we have to take a look at just what a blockchain actually is.

 Read More At: http://www.extremetech.com/extreme/219651-what-is-blockchain-and-can-ibm...

Basically, Linux is selling out; they have been invited to the big boy table to develop bitcoin like currency for the big banks.  This is strong indicator that they are stating to developing a variation of electronic crypto currency for TPTB.  

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