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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle



IBM Announced Its Blockchain Service

Enterprise players will now be able to create their own secured blockchain network. IBM recently announced the launch of its new commercial service called IBM Blockchain. In its press release, IBM says that the IBM Blockchain is based on Hyperledger Fabric 1.0 version by the Linux Foundation.

The company will use Hyperledger, which is also a way of making blockchains available to businesses. This way developers will have the option to host or even builder their through IBM Cloud at a fast rate.

As a protective measure, IBM Blockchain is backed by IBM LinuxONE. LinuxONE is a server by Linux that has a heavy security influence. Even though blockchain as a reputation of being pretty safe, IBM believes that it is “only as safe as the infrastructures on which they reside.”

The company has formed a High Security Business Networked through Linux which it hopes will provide adequate protection to future blockchain networks from attacks. It will do this by isolating information in efforts to prevent leaks of data.

IBM also says that the system has the capacity to support large user transaction expanding over 1000 transactions per second.

The beginning blockchain started as cybercurrency like Bitcoin trading. Yet the technology has a reputation of being able to record and even host more than one copy of the same account. This is put into place as a security measure to prevent fraud and has more than one use.

The use of blockchain is being contemplated by larger businesses like banks and finance companies as a way of dropping the amount of time it takes for obtaining customer requests. Yet the biggest benefit most companies hope to cash in on is blockchains capability of verifying international payments and transfers, something that has proven to be very complex in the past.

To add to its seemingly air tight security, IBM Blockchain has secure service containers to protect code all through the blockchain.

IBM Blockchain for Hyperledger Fabric 1.0 can be found through the beta program found on IBM Bluemix and also on Docker Hub.

On the subject, IBM Blockchain’s general manager Marie Wieck said,

“IBM has applied decades of experience running the world’s largest transaction systems for banks, airlines, governments and retailers, to build the most secure blockchain services for the enterprise. IBM’s blockchain services are built on IBM’s High Security Business Network and designed for organizations that require blockchain networks that are trusted, open and ready for business.”

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