The American tech company IBM has launched its blockchain network World Wire. The group wants to spread its payment network worldwide, relying on the support of some international banks. IBM has been working on its blockchain network since 2016.

The American company IBM today announced on March 20 that it intends to launch its own Blockchain network World Wire. IBM World Wire is a global real-time payment network for financial institutions. According to World Wire, World Wire connects around 72 countries with 47 currencies and 44 bank endpoints. Overall, the blockchain allows the action of about 1,081 currency pairs. According to IBM, World Wire was developed to optimize and accelerate foreign exchange, cross-border payments and money transfers. The company claims that this is the first blockchain network of its kind. It is unique, according to the company, that payment messages, clearing and settlement are integrated into a single network, enabling participants to dynamically choose from a variety of digital assets.

Protecting intellectual property through patent applications is becoming increasingly relevant as the Bitcoin ecosystem consolidates. As a result, tendencies to oligopolize the industry through patent applications are becoming apparent. So China is the largest owner of blockchain patents. Major corporations such as IBM, Alibaba and Walmart are particularly active in ongoing new applications. What does that mean for an industry that has built its growth on the innovative nature of open source systems?

A look at approved and applied for patents in the Blockchain area allows conclusions to be drawn about the current and future state of the conflict between intellectual property and the freedom of researchers and inventors.

Blockchain patents have more than doubled

An analysis by the Hard Fork Research Group based on data from the United Nations (WIPO) World Intellectual Property Organization (WIPO) found that 2018 was the year with the largest number of blockchain patent applications. If 971 patents were filed in 2017, there were 1,060 registrations in 2018. For 2019, WIPO has already registered 242 Blockchain patent applications.

Spanish bank giant Banco Santander has signed a technology agreement with IBM. The deal, which is expected to cost $ 700 million, provides for the bank to use the technology company’s blockchain infrastructure.

It is an elephant wedding as it is in the book: The Spanish banking giant joins forces with the technology group IBM to make common cause. In order to broaden its sphere of influence, Banco Santander said in a press release available to BTC-ECHO, it intends to use IBM technology in the future. With the signing of the contract, Banco Santander is now under the technological hood of IBM for the next five years.