IBM Launches New Blockchain Cloudby Fintechnews Singapore July 15, 2016
IBM announced a new cloud service for organizations that require 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, are 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 their global certification system that tracks 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 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 companies begin to consider 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 also helps meet the stringent security requirements of the financial, health care and government sectors and helps 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 just by making it easy to get up and running on the IBM Cloud, but also by using its most secure infrastructure.”
Currently in limited beta, 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 first projects. The latest version of IBM Blockchain is available today through Bluemix and clients can sign up here.