IBM will use Stellar to digitize Australian government

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IBM will use Stellar to digitize Australian government

IBM has a US$740 million (A$1 billion) contract with the Australian government to power everything from hardware and cloud services to AI, quantum computing and blockchain research.

Australia wants more self-service, automation and digitization to Australia’s government services. There will be joint programs in cybersecurity, enhancements to existing contracts with several agencies and the deployment of IBM research teams to further the use of AI, quantum computing and blockchain in government services.

It’s good until 2023, and it’s the highest-value contract ever negotiated by the Australian government.

Australia has the goal of becoming a top-three digital government by 2025. Australia is investing in research into blockchain technology, quantum computing and artificial intelligence

IBM recently signed other large deals
* $500 million, 10-year cloud computing contract with Italy’s Banca Carige
* a $320 million contract with Denmark’s KMD to supply cloud and AI services
* IBM cloud deals with like Exxon-Mobil and Bausch & Lomb

In 2017, IBM signed an agreement with Stellar (lumens XLM) cryptocurrency. IBM will use the XLM network as the “core backbone” for a cross-border banking solution targeting emerging markets.

IBM partnered with fintech startup Veridium Labs for the verde cryptocurrency token on the Stellar network. The verde token is backed by carbon credits.

The process of tracking all of a company’s pollution and then proving it was offset has been time-consuming and opaque.IBM and Veridium will create an easily auditable blockchain, and tokenizing the credits in a similar way that a bitcoin tokenizes monetary value.

By | 2018-07-10T05:44:15+00:00 July 10th, 2018|Categories: artificial intelligence, blockchain, cryptocurrency, quantum computing, world|Tags: , , |Comments Off on IBM will use Stellar to digitize Australian government

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