IBM announced today the launch of a new framework for securely operating blockchain networks and new services on IBM Cloud, both of which are designed to help companies within the finance, government and healthcare industries meet today’s regulatory and security requirements.
In a press release sent to CoinReport, IBM stressed the importance regulation plays in preventing blockchain technology from remaining just an “experimental technology.”
“Clients tell us that one of the inhibitors of the adoption of blockchain is the concern about security,” said Jerry Cuomo, vice president of Blockchain at 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 company explained how it worked with hundreds of clients, developers and startups that build blockchain applications, and can now address their security concerns. The new services brought together teams of cryptographers, hardware experts, researchers and security experts and include the highest Federal Information Processing Standards (FIPS 140-2) and Evaluation Assurance Levels (EAL) in the industry.
These standards also lay the groundwork for compliance with established federal government regulations including Health Insurance Portability and Accountability Act (HIPAA) and Sarbanes-Oxley (SOX) Act.
Specifically, the IBM Cloud service allows blockchain networks to be deployed in minutes. Services also include the running, testing and certification of Docker images, analytics, dashboards and support. Security features include tamper-resistant storage of crypto keys and the detection and response to unauthorized attempts at physical access.
IBM and Hyperledger
IBM also announced updates related to their participation in the Hyperledger project, including a certified distribution of IBM’s code submission to the Hyperledger project on Docker Hub. This gives organizations the ability to run blockchain technology on different cloud services and devices. The beta release of Blockchain on Bluemix is also available for developers who want to start running blockchains immediately.