Blockchain: An Emerging Platform for Trusted Transactions & Reduced Risk

NCAER hosted Sriram Raghavan, Vice President, IBM Research & Chief Technology Officer, IBM India/South Asia for a seminar on “Blockchain: An Emerging Platform for Trusted Transactions & Reduced Risk”.

Going by popular media reports, blockchain is often a technology associated exclusively with the most recent cryptocurrency security breach or the volatility of the price of bitcoin or other cryptocurrencies. However, blockchain systems built for the enterprise have the potential to transform some of the most complex business processes and transactions. Raghavan presented an overview of different types of blockchain systems, distinguishing specifically between public versus private and permissioned versus permission-less systems. Drawing from financial services, supply chain and logistics, manufacturing, healthcare, and others, he showed how blockchain technology is enabling trusted transactions and driving efficiencies, reducing risks and latencies, and enabling new business models. He presented case studies of industry networks that IBM has been instrumental in establishing — TradeLens (for global shipping in partnership with Maersk), IBM Food Trust (for the food supply chain in partnership with leading companies in food processing and retailing), and We Trade (for trade finance via a consortium of European banks). The presentation ended with a brief preview of two emerging trends driving the evolution of blockchain technology—digital tokens and network interoperability.

Sriram Raghavan is a Vice President at IBM Research with overall responsibility for the Research Lab in India and the Research Centre in Singapore. He also serves as IBM’s global leader for blockchain research, working closely with business units to drive innovations on IBM’s blockchain platform and solution offerings. As the Chief Technology Officer for IBM in India/South Asia, Raghavan is also responsible for communicating IBM’s overall vision and strategy around emerging innovations and technologies with key stakeholders in the region, ranging from developers and startups to clients, analysts, the media, and industry experts. Sriram is an alumnus of the Indian Institute of Technology (Madras) and Stanford University.