IBM blockchain identity authentication experiment declared successful and will be put into use soon

Recently, IBM and French bank Crédit Mutuel Arkéa completed a proof of concept for a blockchain project that aims to create an identity authentication system based on blockchain technology.

The project’s proof-of-concept phase used Hyperledger’s blockchain framework to guide clients in providing proof of identity to third parties, such as local public authorities or retailers. According to IBM, the success of the proof-of-concept also shows that blockchain technology can be used in non-financial sectors.

Frédéric Laurent, COO of Innovation and Operations at Crédit Muété Nationale, said:

Through this project, we have recorded all customer information on a distributed network, which helps us gain a deeper understanding of customer needs and use blockchain technology to provide better customer service.

Laurent went on to say that Crédit Muété Nationale is ready to use the project in its systems, but declined to provide specific details.

In France, apart from some politicians who love to show off, many financial institutions are optimistic about blockchain technology and are actively exploring its applications.

Last week, several French banks joined European financial institutions to explore the use of blockchain in post-trade processing for small and medium-sized enterprises.

In addition, IBM is increasingly making moves in blockchain as a service. Earlier this week, IBM opened a new Bluemix Garage in New York dedicated to cloud blockchain application development.