IBM Reveals Cloud Services for Blockchain Networks

IBM Reveals Cloud Services for Blockchain Networks
14.07.2016 03:45 pm

IBM Reveals Cloud Services for Blockchain Networks

Blockchain , Cloud , Infrastructure

 IBM reports a cloud service for organizations requiring a secure environment for blockchain networks. Ideal for organizations in regulated industries, this environment allows clients to test and run blockchain projects that handle private data. 

IBM’s secure blockchain cloud environment, underpinned by IBM LinuxONE, the industry’s most secure Linux-only server, is ideal for organizations such as Everledger, a company that tracks and protects diamonds and other valuables via the blockchain. Based on Common Criteria EAL5+ security rating for z Systems mainframe; May the Cyber Security Force be with You, a Solitaire Interglobal Ltd study; and 2015 Global Server Hardware and Server OS Reliability Survey, a joint survey by ITIC and Strategy Analytics. Everledger is building a digital business network using IBM Blockchain to power its global certification system to track valuable items through the supply chain, helping to protect suppliers, buyers and shippers against theft, counterfeiting and other forms of corruption. The blockchain is used to demonstrate the origin of high-value goods such as diamonds, fine art and luxury goods. 

"When you are in the business of provenance, secured records, access and transparency are everything. There is no compromise when it comes to security and one cannot underestimate the expertise required to enable this," said Leanne Kemp, CEO and Founder of Everledger. "Having the opportunity to build, test, scale and refine Everledger on IBM Blockchain, underpinned by a security-rich infrastructure, is a game changer. It has accelerated our ability to move fast and deliver the most innovative solutions to our partners internationally and confidentially." 

As blockchain grows in influence and organizations begin to evaluate cloud-based production environments for their first blockchain projects, they are exploring ways to maximize the security and compliance of the technology for business-critical applications. The average total cost of a data breach for enterprises reached $4 million last year, and with security incidents up by 64 percent in 2015, the risks are higher than ever. Based on “2016 Ponemon Cost of Data Breach Study Security is critical – not just within the blockchain itself but with all the technology touching the ledger. 

The business network on the IBM Blockchain cloud environment helps secure entry points and fight against insider threats. With advanced features that help protect data and ensure the integrity of the overall network, LinuxONE is designed to meet the stringent security requirements of the financial, health care and government sectors, helping to foster compliance. 

“Blockchain will change the way we transfer high value goods, digital assets and financial instruments. To accelerate blockchain adoption, clients must trust the infrastructure and the system that blockchain is running on,” said Donna Dillenberger, IBM Fellow, Enterprise Solutions. “With IBM Blockchain, we are expanding access to the emerging technology — not only by making it easy to get up and running on the IBM Cloud, but also by using the most secure infrastructure.” 

Currently in limited beta, these new secure cloud services to run blockchain in a production environment allow clients to quickly and easily access a secure, partitioned blockchain network to deploy, test and run projects. Clients can sign up here. The latest version of IBM Blockchain is available today through Bluemix

Related News

Lendonomy selects Neonomics to build Norway’s very first PSD2 crowdlending solution

Lendonomy, a Norwegian fintech startup that is developing a blockchain-based “Airbnb for lending” targeting GenZ, and Neonomics, a leading provider of open banking APIs... Read more »

DeeMoney Partners with Ripple to Power Faster and Cheaper Cross-Border Money Transfers

DeeMoney, a fintech company based in Thailand specializing in digital cross-border money transfers, today announced its platform is now... Read more »

Manx Telecom and Minima Complete Successful Blockchain Proof Of Concept To Show Future of Payment

 Minima, the world’s first truly decentralised Blockchain protocol that runs in full on mobile phones, announces the completion of a successful proof of concept with the Isle... Read more »

Smartlands Receives “Best Crowdfunding Platform 2020” Award from FinTech Breakthrough Awards

Smartlands is excited to announce that Smartlands has received the “Best Crowdfunding Platform” Award from the FinTech Breakthrough... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel