IBM's blockchain department has been incorporated into a new business unit, and the blue giant's blockchain strategy has been upgraded!

According to foreign media reports, the internal blockchain team of the blue giant IBM has been reorganized into a new business unit, which covers artificial intelligence (AI) and cloud computing business.

It is reported that this industry platform will be led by Bridget van Kralingen, former senior vice president of IBM's Global Business Services.

(Bridget van Kralingen, former senior vice president of IBM Global Business Services)

IBM’s entire blockchain effort will transition to this division, which was first announced last September.

In addition to its work on blockchain technology, the unit will lead IBM's efforts to build bridges between its financial services and Watson artificial intelligence innovations.

Commenting on the move, IBM CEO and Chairman Ginni Rometty said:

“This industry platform business will deliver fundamental process and market optimization for clients, leveraging Watson AI, IBM Cloud, IBM Systems, blockchain, deep domain expertise, and an ecosystem of partners and developers.”

“This is an important move for IBM as we increase our focus on blockchain,” the company further said.

IBM's global business services division is now led by Accenture senior executive Mark Foster.

Blockchain research at IBM

The new division is understood to represent the next phase of IBM’s blockchain research, following the company’s development of a number of blockchain prototypes and its leading role in the Linux Foundation-led Hyperledger project.

IBM launched an early blockchain project as a proof-of-concept integrating BitTorrent, Ethereum, and TeleHash in early 2015. Since then, the giant company has been working on leveraging Watson artificial intelligence and distributed ledger technology.

In June, IBM also opened a Watson Center in Singapore's Marina Bay, which is dedicated to developing artificial intelligence and blockchain applications.