The company is aiming to use the chip as the data source for blockchain-based applications. The speck of technology is cost-effective to manufacture and packs several hundred thousand transistors, invisible to human eye.

United States: IBM has recently revealed the world’s smallest computer at the IBM Think 2018 conference. The computer is a small chip of x86 from 1990 and the company claims that it is a very powerful chip. The company aims it to be the data source for blockchain-based applications.

In an official blog post, the company claimed that the world’s smallest computer is an IBM-designed edge device architecture and computing platform that is smaller than a grain of salt will cost less than 10 cents to manufacture and can monitor, analyze, communicate and act on data. The device packs around a hundred thousand transistors into a footprint that is hardly visible to the human eye and can help to verify if a product has been handled properly throughout its long journey or not.

The company further explained that the cryptographic anchors will allow the use of blockchain in various products like a bottle of wine or a chocolate box and work as secure digital watermarks which will make help in preventing product copies, making it easier to identify original products from dupes.

The company is also aiming to keep the manufacturing cost of these tiny computers as low as 10 cents as with the minimal production cost could lead to the widespread adoption of the same. The head of research for IBM feels the onset of crypto anchors are just the beginning.

Cryptographic anchors will be used with blockchain's distributed ledger technology to ensure the authenticity an object from its point of origin to when it reaches the hands of the customer.

The technology will pave the way for new solutions for food safety, authenticity of manufactured components, genetically modified products, identification of counterfeit objects and provenance of luxury goods.

According to TechSci Research, IBMs latest computer is a revolutionary breakthrough for Blockchain technology. The low manufacturing will enable wider adoption of the technology and help to resolve challenges that arise with transaction speed, verification process and data limitations. The Blockchain Market will see a robust growth in the coming years as a result of rising awareness about the blockchain solutions among the fortune 500 companies coupled with rapidly increasing FinTech spending across the globe. With a surging number of multinational financial institutions across the world adopting blockchain technology, the global blockchain market is on a strong upswing.

According to the recently published report by TechSci Research, “Global Blockchain Market, By Type (Private, Public, & Hybrid), By Application (Financial Vs. Non-Financial), By Enterprise (Large Vs. Small), By End User (BFSI, Corporate, Government, and Others), Competition Forecast & Opportunities, 2012 – 2022”, Global blockchain market stood at around $ 215 million in 2016, and is forecast to grow at a robust CAGR of more than 43% to reach $ 4.2 billion by 2022, on account of widespread implementation across numerous areas such as Internet of Things (IoT), banking & financial institutions, healthcare, media & entertainment, energy, retail, etc. In addition, rapid increase in FinTech spending, predominantly on technologies used in the financial services sector, is expected further propel market growth in the foreseeable future.

Moreover, TechSci Research predicts that IBM’s latest computer will also open enormous potential for Quantum Cryptography due to rising need for data safety as a result of increasing adoption of technologies like IoT, Blockchain and Big data. The need for safeguarding crucial data due to rising number of data theft and cyber-attacks coupled with increasing implementation of cloud storage will drive the quantum cryptography market in the coming years.

According to the recently published report by TechSci Research, “Global Quantum Cryptography Market, By Component (Hardware & Service), By Enterprise (Large & Small Enterprise), By Application (Data Base Encryption, Network Layer Encryption, etc.), By End-User, By Region, Competition Forecast & Opportunities, 2023”, Global quantum cryptography market was valued at around $ 328 million in 2017 and is projected to grow at a CAGR of over 25% to surpass $ 1.2 billion by 2023. With growing IoT market, which encompasses IIoT, smart grids, smart cities, smart consumer wearables, smart appliances and smartphones, the need to secure data is also increasing, thereby paving way for quantum cryptography. Further, rising concerns for data security due to rapid surge in the number of cyber-attacks over the past few years is expected to continue boosting the quantum cryptography market across the globe in the coming years.

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