THAT WAS A FINE INTERVIEW, YOUNG
MAN.
MUCH OBLIGED TO YOU.
>>> KNEW THIS THIS IS
FASCINATING.
GOLDMAN SACHS SAYS MOST OF THESE
CRYPTOCURRENCIES LIKE ABOUT IT
COIN TO BE WORTHLESS HAVEN’TLY,
HOWEVER OUR NEXT GUEST IS INTO
THE TECHNOLOGY BEHIND BITCOIN.
THAT TECHNOLOGY IS BLOCKCHAIN.
SPECIAL GUEST ON THE PROGRAM
TODAY.
BRIDGET VAN COLINGTON RIGHT
PRONUNCIATION?
SENIOR VICE PRESIDENT OF IBM.
YOU ARE INVOLVED IN IBM’S
BLOCKCHAIN PROJECT.
AS I UNDERSTAND IT YOU WILL
CREATE A LAB FOR BLOCKCHAIN
TECHNOLOGY AND HOW YOU CAN APPLY
BLOCKCHAIN FOR REAL LIFE.
IS THAT WHAT YOU’RE UP TO?
>> 18 MONTHS AGO WE STOOD UP
BUSINESS DRIVING BLOCKCHAIN FOR
OUR CLIENTS.
IBM IF YOU THINK ABOUT OUR
COMPANY, HELPS OUR CLIENTS USE
INNOVATIVE ECONOMY TO MAKE
BUSINESS WORK BETTER.
THE TECHNOLOGY BEHIND BRIT COIN
BASICALLY IS SHARED LEDGER WHERE
MULTIPLE PATIENTS IN AN EXCHANGE
HAVE AN IMMUTABLE RECORD WHICH
IS ABLE TO CHANGE OVER TIME WITH
THE CONTRACT T CAN BE SEEN
INSTANTLY.
BECAUSE IT IS IMMUTABLE IT CAN
BE TRUSTED BETWEEN MANY PARTIES
AND ALSO PERMISSION SO ONLY
PEOPLE SEE WHAT YOU WANT THEM TO
SEE.
THE BUSINESS MODEL IMPLICATIONS
ARE HUGE.
STUART: GIVE ME AN EXAMPLE HOW
YOU AT IBM COULD USE BLOCKCHAIN
TECHNOLOGY, NOTHING TO DO WITH
CRYPT TOE CURRENCIES.
HOW DO YOU APPLY IT TO REAL LIFE
SO I CAN UNDERSTAND THIS.
>> THERE ARE MANY, MANY USE
CASES AND INVESTMENTS WE STOOD
UP FOR BLOCKCHAIN BUT SOME
FANTASTICALLY POWERFUL ONCE, FOR
INSTANCE THE JOINT VENTURE WE
ANNOUNCED A COUPLE WEEKSING A
WITH MAERSK.
GLOBAL SHIPPING SUPPLY CHAIN, 9%
OF THE FOODS WE USE COME THROUGH
THAT.
IT IS 8 TRILLION A YEAR.
15% OF COSTS ARE PAPERWORK THAT
GO BETWEEN INDIVIDUAL PARTIES
WHICH PUT IN A BLOCKCHAIN CAN
ESSENTIALLY BE ELIMINATED.
WHICH MEANS WE CAN ACCELERATE
TRADE AN MANY MORE CAN
PARTICIPATE.
STUART: HOLD ON.
I’LL TRYING TO GET TO GRIPS WITH
THIS.
YOU HAVE A PARTNERSHIP WITH
MERSK.
THEY’RE A BIG SHIPPING COMPANY.
>> YES.
STUART: SOME YOU MERGE
BLOCKCHAIN INTO THE SUPPLY CHAIN
IS NOT THE WORD TO OUST, PUT IT
ON BLOCKCHAIN, TOTALLY PRIVATE,
NOBODY CAN HACK IT?
>> PERMISSION TO SEE IT WE AT
IBM RECOGNIZE PART OF THIS IS
BUILDING TECHNOLOGY THAT
ENTERPRISES CAN RUN ON.
PERMISSIONED ONLY THOSE IN THE
BLOCKCHAIN CAN SEE IT.
IT IS SECURE BECAUSE WE PUT IT
ON IBM SECURE CLOUD.
THAT SORT PA OF THE INVESTMENT
WE’RE MAKING SO AN ENTERPRISE
CAN COUNT ON THE TECHNOLOGY.
STUART: HOW MUCH MONEY ARE YOU
PUTTING INTO THE BLOCKCHAIN
VENTURE, NOT WITH MAERSK?
>> YOU KNOW ABOUT OUR STRATEGIC
IMPERATIVES WE TRANSFORM IBM FOR
THE NEW ERA.
IT IS ONE OF OUR MAJOR
INVESTMENTS.
STUART: HOW MUCH?
CAN YOU TELL ME?
>> A LARGE AMOUNT OF MONEY.
INVESTMENT WE’RE MAKING FOR
MAERSK.
STUART: IS IT BILLIONS?
>> IBM SPENDS $6 BILLION EVERY
YEAR ON RESEARCH.
WE’RE PULLING OUR RESEARCH.
YOU’RE PULLING OUR SOFTWARE
DEVELOPMENT INTO IT.
IT IS ONE OF OUR MAJOR CCs FOR
INVESTMENT.
IF YOU THINK ABOUT IT, IMPACT
FOR THE WORLD IS HUGE.
IT TAKE AS WEEK TO RECALL A FOOD
PRODUCT.
BLOCKCHAIN WITH THE WORK THAT
WE’VE DONE WITH WALL MART AND
GROUP OF CONSUMER COMPANIES THEY
CAN GET A RECALL AND TRACK THE
FOOD IN TWO SECONDS.
HALF A MILLION PEOPLE GET SICK A
YEAR.
460,000 PEOPLE DIE, SORRY.
STUART: I AM IMPRESSED.
I THINK WE’RE ALL IMPRESSED.
WE’LL LISTEN VERY CAREFULLY.
WOULD YOU BE INSULTED IF I WERE
TO SAY IBM IS -- IBM IS OLD TECH
AND YOU ARE --
>> NOT GOING TO TAKE THAT
PERSONALLY.
[LAUGHTER]
STUART: IBM IS OLD TECH AND YOU
AND YOUR BLOCKCHAIN DIVISION,
YOU’RE DOING YOUR BEST TO MAKE
IT NEW TECH, THAT RUE?
>> I WOULD SAY THAT IBM IS
ABSOLUTELY NOT OLD TECH.
WE HAVE BEEN TRANSFORMING FOR
EVERY ERA OF TECHNOLOGY FOR THE
LAST 100 YEARS.
THIS IS THE NEWEST ONE.
WHAT IS THE TRANSFORMATION?
MOBILE, BIG DATA, ARTIFICIAL
INTELLIGENCE AND CLOUD, ALL OF
THOSE ARE PART OF PORTFOLIO
TRANSFORMATION THAT IS DRIVEN
FOR IBM.
THAT IS VERY NEW TECH.
STUART: YOU HAVE A SLIGHT
ACCENT.
MIND IF I GUESS.
>> YOU’RE ABSOLUTELY BRILLIANT.
GLAD YOU DIDN’T SAY I WAS