US tech giant IBM on Friday announced a new cloud service for organisations which require a secure environment for blockchain networks allowing clients to test and run projects that handle private data.

IBM’s secure blockchain cloud environment, underpinned by IBM LinuxONE, the industry’s most secure Linux-only server, are ideal for organisations such as Everledger — a company that tracks and protects diamonds and other valuables via the blockchain.

Blockchain technology — which creates a permanent and transparent record of transactions — reduces or eliminates frictions, like participants of a transaction not having access to the same information, by recasting institutions and economy in new form with far greater efficiency and far less risk.

“When you are in the business of provenance, secured records, access and transparency are everything. There is no compromise when it comes to security and one cannot underestimate the expertise required to enable this,” said Leanne Kemp, CEO and Founder of Everledger, in a statement. “Having the opportunity to build, test, scale and refine Everledger on IBM Blockchain, underpinned by security-rich infrastructure, is a game changer. It has accelerated our ability to move fast and deliver the most innovative solutions to our partners internationally and confidentially,” Kemp added.

The business network on the IBM Blockchain cloud environment helps secure entry points and fight against insider threats. Currently in limited beta, new secure cloud services to run blockchain in a production environment allow clients to quickly and easily access a secure, partitioned blockchain network to deploy, test and run first projects.

Source From : firstpost.com