Central bank digital currencies are all the rage, but making them work is far easier said than done, according to a new report. While there are many potential benefits from a central bank digital currency (CBDC), they also bring serious financial risks, according to IBM Blockchain and the Official Monetary and Financial Institutions Forum (OMFIF).
IBM is teaming up with blockchain builder Chainyard on a new supply chain management platform that has attracted participants from a half dozen industries. While many major coalition blockchain projects are industry specific—like Big Blue’s TradeLens Consortium for shipping and its Food Trust alliance for produce—the Trust Your Supplier network is focused on documenting and verifying supplier information of all types.
Walmart, Merck, IBM, and KPMG are teaming up with the U.S. Food and Drug Administration on a blockchain pilot program aimed at protecting the American pharmaceutical supply chain.
Just two weeks after IBM’s blockchain ambitions fell into doubt with the mysterious departure of Jesse Lund, Big Blue is set to lose another key advocate for the space. Modern Consensus has exclusively learned that Stanley Yong, the company’s Global Lead on Central Bank Digital Currency Solutions, is leaving the company.