Investment in blockchain has been growing exponentially as technology and professional services companies battle it out “to capture the nascent market.” And recently IBM (International Business Machines Corp.) announced the new release of IBM Blockchain, which is based upon the Linux Foundation’s Hyperledger open source Fabric codebase, and can handle “more than 1,000 transactions per second among large ecosystems of users.” The new service “enables developers to quickly build and host security-rich production blockchain networks” on the IBM Cloud. Further, IBM announced:
- the first commercially available governance tools for its blockchain, and
- Fabric Composer, an open-source developer tool for Hyperledger Fabric that promises to quickly create a user interface via automation and the creation of APIs that integrate with both blockchain and any existing systems of record.
And because the safety of any technology is highly impacted by the structure it inhabits, IBM’s blockchain is built upon its High Security Business Network, which offers the security of Linux infrastructure designed specifically for enterpriseblockchains. This ultra-secure Linux infrastructure provides:
- Safeguards against insider attacks, including protection for network entry points and against threats from those with system administrator credentials.
- Highest certified level of isolation for a commercial system (EAL5+), in preventing data leakage.
- Secure Service Containers that restrict access to the blockchain and protect the code.
- FIPS 14-2 Level 4 security certification tamper-responsive hardware security modules.
- The ability to review comprehensive log data for the purposes of auditing and compliance.
Among the companies who are deploying IBM Blockchain are SecureKey, Beijing-based Energy-Blockchain Labs, and Northern Trust. And as per a press release, they seek to benefit by the distributed ledger technology’s transparency and auditability.