IBM to use Bitcoin technology in smart contracts

     According to Dow Jones, International Business Machines ( IBM ) believes that the technology that supports Bitcoin can have a wider range of applications. In the coming months, the technology giant plans to release open source software that can be used to develop electronic contracts that can be publicly recorded and protected by the global network, just like Bitcoin transactions.

     IBM is targeting a technology called blockchain, which acts as an online ledger for bitcoin. Blockchain allows the bitcoin network to track the movement of the currency between online accounts. But the technology can also be used to record other forms of transactions.