IBM has released the latest piece of its blockchain offering, allowing the creation and hosting of secure blockchain networks on the IBM cloud.
Announced as the first enterprise-ready blockchain service, the new release is based on the Linux foundation’s HyperLedger Fabric v1.0 which was recently promoted from incubator to active.
The service will mean that developers can create and manage scalable blockchain networks that will allow them to effectively deal with 1,000 transactions per second on large networks with lots of users.
Blockchain as a service
While blockchain is viewed by many as being safer than other forms of digital networks, IBM argues that they are only as safe as the infrastructure that underpins them.
The company’s High Security Business Network provides a good foundation for building blockchain networks on due to having an evaluation assurance level certification of EAL5+ (the highest certified level of isolation for a commercial system).
Other features include hardware resistant hardware security modules for the storage of cryptographic keys, and comprehensive log data to allow for forensics, audit and compliance.
Marie Wieck, general manager at IBM blockchain says that the service is designed to provide businesses with networks that are ‘trusted, open and ready for business’:
“IBM has applied decades of experience running the world’s largest transaction systems for banks, airlines, governments and retailers, to build the most secure blockchain services for the enterprise.”
Blockchain governance tools
As well as providing a secure and reliable network on which client networks can be built and deployed on, the new service also provides a number of blockchain governance tools.
It is hoped that these open-source developer tools will massively reduce the time it takes businesses to build their networks.
The new tools will allow the management of the network from a single dashboard where it will be possible to:
- assign roles
- set rules
- manage membership
- enforce compliance
Another new feature is the network trust rating of 1-100 that is assigned to each network, allowing people to judge whether they want to join. Organisations will be able to improve this rating.
Other open-source tools will mean that developers can create APIs before integrating them with the blockchain network and their exiting record keeping systems.
IBM Blockchain for Hyperledger fabric v1.0 is now available as a beta programme.