IBM announced its new take on blockchain technology, with a new framework for securely operating blockchain networks and new services on the IBM Cloud.
The company said some cloud environments leave back doors open to vulnerabilities that allow tampering and unauthorized access.
In this regard, the company created essential new cloud services for tamper-resistant, trusted blockchain networks.
Further, IBM said it is addressing security needs in several ways, including cloud services with the highest Federal Information Processing Standards (FIPS 140-2) and Evaluation Assurance Levels (EAL) in the industry to support the use of blockchain in government, financial services and healthcare.
The company is also making it easier to use IBM’s code based on the Linux Foundation Hyperledger Project in any environment, and offering services on Bluemix, IBM’s cloud platform, to help developers quickly build applications.
The IT company is opening an IBM Garage this month in New York City. IBM is also working with clients such as BNY Mellon to accelerate the design and development of a unique application for securities lending, using a blockchain network to trade and transfer assets.
“Clients tell us that one of the inhibitors of the adoption of blockchain is the concern about security,” said Jerry Cuomo, vice president, Blockchain, IBM.
“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.”
The IT major expects its moves to remove hassles in adopting blockchain technology in the fields of financial services, government and healthcare.