Narayan AmmachchiTechnology giant IBM is investing US$5.5 million to build a blockchain solutions center in Sao Paulo, Brazil that will begin operations in the second quarter of this year.
This is the company’s first delivery center dedicated to providing blockchain solutions in Latin America, with other such centers located in England, the United States, Canada, Japan, and Germany.
“We continue to expand the capabilities of IBM Cloud in Brazil, now with our new blockchain solutions hub,” said Marcos Paraiso, IBM Watson and Cloud Platform leader at IBM Brazil. “This is the answer to growing demand from customers who need reliable infrastructure and platforms to help them compete in the local and global market.”
The Latin American market for blockchain solutions is expected to grow more than 125% over the next three years, says the company, citing a recent study by research firm IDC.
The delivery center will work alongside IBM Cloud Garage, recently announced in Sao Paulo, which brings together the practices of design thinking, agile, and DevOps in the IBM Cloud to help companies quickly develop new applications.
The tech company is already working on over 400 distributed ledger projects, as well as making huge investments in blockchain, saying the technology can disrupt governance, supply chain, healthcare, and many more industries.
IBM recently unveiled a new blockchain product that lets startups and developers build their own distributed ledger projects.
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