IBM and Volksbank Mittweida eG sign partnership agreement for Werkbank 32, which also benefits SMEs.
IBM, Volksbank Mittweida eG and the WIR alliance, which it also represents, have been working closely together on the Mittweida blockchain showcase region since 2018. The first joint activities have already been agreed and got off to a successful start. This collaboration, particularly in the area of developing and implementing blockchain solutions, will now be further consolidated and expanded. The players therefore met in Mittweida to sign a joint cooperation agreement.
Two strong partners
This brings together two partners who have long believed in the blockchain technology of the future. IBM is the market leader and has supported and implemented numerous successful blockchain projects in a wide range of industries. Christian Schultze–Wolters, Head of Blockchain Solutions at IBM, underlines this: "We have already implemented 500 IBM blockchain projects. Experience has already shown us the enormous power behind this technology".
Volksbank Mittweida eG and its CEO Leonhard Zintl are also convinced of this. This is why they have created a separate unit within the Volksbank that deals with the implementation of blockchain projects in the banking sector. At the same time, since 2019 it has been pursuing City of Mittweida and the Mittweida University of Applied Sciences as part of the WIR! program of the BMBF Together, they aim to develop the Mittweida region into a kind of showcase for blockchain technology. Volksbank Mittweida eG has also created a new innovation center, Werkbank 32, where a dedicated blockchain innovation hub is to be set up. Zintl is convinced that blockchain will not replace banks, but "blockchain will give banks and SMEs the opportunity to speed up processes and optimize costs" and thus offer customers more direct benefits.
Goals of the cooperation
The focus of the cooperation is on strengthening and activating the region through digital companies.
The partners therefore want to empower the region in the area of blockchain. This will enable them to leverage the scaling effects of digital companies. The focus is on blockchain as a digital topic, and the challenge is to find suitable and high-profile application examples. IBM will support Volksbank Mittweida and the WIR Alliance in the pre-selection and selection of suitable application examples with IBM blockchain expertise.
