hybrid networks powered by IBM Blockchain Services & CasperLabs at Davos 2022 IBM Supply Chain and Blockchain Blog
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The last few years have created a perfect storm of digitization and trust. Within the new Web3 partnership and ecosystem models coming to life now, powered by creator economy/token economy concepts, the full hope (promise) of the internet is on the horizon. Delivered in a digitally native experience (for or with a generation that won’t accept anything less), the future of enterprise blockchain has accelerated and evolved.
The blockchain market as we know it has matured to where we are seeing real adoption from enterprises, governments and financial institutions. Public chain technology has also become more resilient and scalable, and now with layer 2 solutions making them more useable, there is increasing experimentation and adoption in DeFi and for Web3 applications overall.
A hybrid enterprise blockchain solution can help organizations realize new business outcomes such as:
- Fine-grained security, privacy, auditable regulatory compliance and protection of competitive advantage
- Agility to adapt to market changes and competitor moves
- Single source of truth visible to all participating members in near real time with reduced friction, cost savings and efficiencies
For the enterprise, unlocking the power of hybrid networks means thoughtful strategy, design and experience rooted in trusted data, tokenization, portability of assets and scalability of users. This digital convergence is the new table stakes for successful monetization in the digital economy and for de-risking an enterprise’s marginal dollar investment in the space. Today, we are delivering Web3 and metaverse consulting, leveraging years of market-leading client success powered by blockchain, working with both permissionless and private networks. We know that the potential has always been there for more. This week at Davos we’re delivering on that vision.
In one hybrid blockchain success story that we showcase this week, IBM Blockchain Services, together with our partner CasperLabs, are trailblazing success together, leveraging hashed timelock contracts (HTLCs) to make organizations’ workflows and transactions more seamlessly interoperable between blockchain networks. This means a promise of future trust digitization, where in-enterprise blockchain solutions are precision engineered for the web3 world,
“We are excited to continue our partnership with CasperLabs, bringing to life real, measurable client outcomes powered by hybrid blockchain with speed, at scale. IPwe is the first of many new marketplace models in action for the industries re-imagined.”
— Anouk Brumfield, VP Blockchain Services, IBM
For clients of CasperLabs and IBM, this technology offers an exciting option, combining the enhanced security of a private consortium network running Hyperledger Fabric with the public verifiability and open market access enabled by Casper public blockchain capabilities. We’re very excited to see what we can create together!