IBM has revealed it is prepared to work with Facebook on blockchain and tokenization projects but didn’t explicitly suggest it would join the consortium of companies known as the Libra Association.

Speaking on financial news channel CNBC on Monday, Jason Kelley, IBM’s general manager of blockchain services, said collaboration was important for the future development of blockchain technology. He said:

Blockchain is a team sport. Our clients are ready to work with (Facebook) and we’re ready to work with all of them to bring it together.

Importance of Partnerships

IBM has fostered many partnerships within its blockchain enterprise, developing a multitude of projects using the distributed ledger technology from payments to supply chain management. Indeed, it is the leading owner of blockchain patents in the US.

In August, the company – colloquially called The Big Blue – announced the launch of a platform called Trust Your Supplier, partnering with companies such as Vodafone, Nokia, Cisco and GlaxoSmithKline.


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