Last week, IBM announced a new cloud service that would enable companies to analyze performance, security, and interoperability of blockchain ecosystems in a secure cloud environment. The company claims that the new cloud environment, which is based on IBM’s LinuxOne (a Linux-only server) used for high-security projects, will enable businesses to analyze and run blockchain projects that handle private and confidential clients’ data.
The cloud service is still in beta mode. IBM customers will only have access to the service after it is officially launched. Nonetheless, once the program launches, IBM guarantees its clients that they will be able to effortlessly run blockchain ecosystems in a secure environment.
Blockchain is a relatively new technology. It is made up of a distributed database developed to retain and secure data records that can neither be meddled with nor edited. The database is further structured into separate data blocks, which can be time stamped, holding a wide range of distinct information.
Blockchain was first designed by Bitcoin, a crypto-currency firm, as a method of protecting digital cash from manipulation and looting. The technology now has a wide range of applications and can securely store and transfer valuable information such as digital assets and money, intellectual property, and voting records.
“Blockchain tech will change transmission of valuable digital information and goods. Adoption of the technology will be accelerated once clients trust the infrastructure of the whole system running blockchain,” explained Donna Dillenberger, IBM’s Global Leader of Enterprise Systems. Dillenberger went further to point out that the new blockchain cloud service will expand access to blockchain technology. She insists on what enterprises have to gain by running cloud services on a secure infrastructure.
Blockchain technology is gradually gaining traction and popularity in the business world. Enterprises are testing the practicality of implementing blockchain in cloud-based services. All business establishment need to maximize the security of customer data and transactions data. Blockchain offers exactly that.
But a data breach in a blockchain project could be disastrous for a company and its clients. Blockchain transmits precious digital information. Data breaches cost business enterprises up to $4 million in 2015. The number of cyber-attacks went up by 64% in 2015. These figures are ever on the rise. According to IBM experts, a breach on a blockchain ecosystem could be bad news for businesses.
IBM is giving clients the chance to test the IBM Blockchain. Testing the system and analyzing performance gives the buyer assurance that the system is secure and not susceptible to breaches.