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IBM announces blockchain cloud service

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The latest in a chain of crypo-news from IBM

IBM has launched a limited beta of a new cloud environment for business-to-business blockchain operations, offering a secure, partitioned network to deploy, test and run projects.

Originally created for the bitcoin crypocurrency, blockchain is a distributed database that maintains a continuously growing list of records in a chain of data structure blocks. Each block holds batches of individual transactions and the results of any blockchain executables, as well as a timestamp and a link to the previous data structure block, thus creating a chain.

Interesting Blockchain Machine

IBM LinuxOne Emperor

IBM LinuxONE Emperor

Source: IBM

“Why this is the most secure blockchain is because we’re providing it on the LinuxONE system and we have these LinuxONE systems in public clouds all over the world,” said Donna Dillenberger, IBM Fellow.

“So anything installed in this secure services container is attested, encrypted and signed and you can’t install malware in it – the firmware prevents it.”

Jerry Cuomo, VP of blockchain at IBM, added: “While there is a sense of urgency to pioneer blockchain for business, most organizations need help to define the ideal cloud environment that enables blockchain networks to run securely in the cloud.”

Everledger, which tracks and protects diamonds and valuable goods through blockchain, was highlighted as a company that already uses the technology.

CEO Leanne Kemp said: “Having the opportunity to build, test, scale and refine Everledger on IBM Blockchain, underpinned by security-rich infrastructure, is a game changer.”

The news comes after IBM announced plans for a Blockchain Innovation Center in Singapore last week to develop applications and solutions based on blockchain, cybersecurity, and cognitive computing technologies.

In December 2015, IBM joined the Linux Foundation to help accelerate blockchain development on Linux.

Source: IBM

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