IBM Introduces Blockchain As A Service Solution

IBM Introduces Blockchain As A Service Solution

IBM has recently announced the release of its “Blockchain as a Service”, a product based on the open source Hyperledger Fabric.

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IBM has recently announced the release of its “Blockchain as a Service”, a product based on the open source Hyperledger Fabric, version 1.0 from The Linux Foundation.

“The IBM Blockchain ecosystem brings together a range of people and organizations interested in building and leveraging blockchain solutions. The ecosystem provides members with special benefits and resources to tap into this exciting new space.”, stated the IBM`s website (ibm.com).

“They receive access to blockchain technical expertise, discussions, meetups, migration support and merchandising for their solution.”, added the company.

This service can allow any private company or government agency to create a trusted network. In this network, members would be able to share information without any privacy concerns. As Jerry Cuomo, VP of blockchain technology at IBM, said, the goal is to offer a set of cloud service that will allow customers to create, use and manage blockchain networks.

The blockchain solution is based on the open source Hyperledger Fabric project. Nevertheless, IBM has reportedly added a set of security services for its enterprise customers.

Speaking to TechCrunch, Cuomo said:

“Some time ago, we and several other members of the industry came to view that there needs to be a group looking after, governing and shepherding technology around blockchain for serious business.”

The Hyperledger Fabric project was kickstarted at the end of 2015 to fulfil this goal. It boasts with premier members like IBM, SAP and J.P. Morgan Chase & Co, among other banks and companies.

As Cuomo admitted, it is impossible to guarantee that IBM`s blockchain service is unbreachable. However, they have taken some serious safeguards to protect the product.

It is speculated that, if the service works well, it could simplify and secure the way we share our identities in a digital context.

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