IBM Launches Secure Enterprise-Ready Blockchain Services

IBM Launches Secure Enterprise-Ready Blockchain Services
Fotolia

IBM announced the new release of IBM Blockchain, the first enterprise-ready blockchain service based on the Linux Foundation's Hyperledger Fabric version 1.0. The service enables developers to quickly build and host security-rich production blockchain networks on the IBM Cloud, and is underpinned by IBM LinuxONE, the industry’s most secure Linux server.

The Linux Foundation's open source Hyperledger Fabric v1.0 is being developed by members of the Hyperledger consortium alongside other open source blockchain technologies. Consortium's Technical Steering Committee recently promoted Fabric from incubator to active state and it is expected to be available in the coming weeks. It is designed to provide a framework for building enterprise-grade blockchain networks that can quickly scale as new network members join and transact at rates of more than 1,000 transactions per second among large ecosystems of users.

IBM's blockchain services are designed to help developers create, deploy and manage blockchain networks on the IBM Cloud, and the company was first-to-market with its High Security Business Network services for regulated environments. Clients ranging from startup Everledger to financial services leaders Bank of Tokyo-Mitsubishi UFJ and Northern Trust are among the organizations running their blockchain applications on the IBM Cloud today.

IBM also announced the first commercially available blockchain governance tools, and new open-source developer tools that automate the steps it takes to build with the Hyperledger Fabric from weeks to days. New tools make it easy to set up a blockchain network and assign roles and levels of visibility from a single dashboard. They help network members set rules, manage membership, and enforce network compliance once the network is up and running.

Once setup is initiated, members can determine the rules of the blockchain and share consent when new members request to join the network. In addition, the deployment tool assigns each network a Network Trust Rating of 1 to 100. New network members can view this before joining and determine whether or not they can trust the network enough to participate. Organizations can also take steps to improve their Trust Ratings before moving into production.

To make it easier for developers to translate business needs from concept to actual code, IBM Blockchain includes new open-source developer tools for Hyperledger Fabric called Fabric Composer. It can help users model business networks, create APIs that integrate with the blockchain network and existing systems of record and quickly build a user interface. Fabric Composer helps automate tasks that traditionally could take weeks, allowing developers to complete them in minutes.