IBM Introduces Framework for Cloud Blockchains

HOME PAGE TECH BLOCKCHAIN IBM INTRODUCES FRAMEWORK FOR CLOUD BLOCKCHAINS

The global corporation IBM presents a new blockchain solution: The product is designed to make it easier for merchants to offer their customers Bitcoin payments. With this step, IBM is taking a further step into the world of crypto currencies, after the company had already introduced its own blockchain technology in the past.
IBM Framework for Secure Blockchain

The new framework is intended to make blockchain systems that are operated via the corresponding cloud services more secure. This is intended to simplify the use of blockchain technologies for companies and retailers. One would like to achieve this among other things by the fact that the framework fulfills e.g. national regulations.

Blockchain Vice President talks about the Bitcoin news

Jerry Cuomo, Blockchain Vice President of IBM, confirmed in an Bitcoin news interview with CoinDesk about the review of onlinebetrug that they want to enable developers to use the new technologies and relieve them of the burden. This should make it easier to use the new technologies.

Cuomo is convinced that public blockchains are generally safe. Nevertheless, he sees it as difficult, especially for larger companies, to use such technologies. Although the blockchains as such are secure, special requirements would arise from consistent data storage.

IBM itself says that the framework should enable organizations to develop their own “secure cloud environments”.

The role of the cloud for Bitcoin news

Companies are currently faced with a review: Blockchain or Cloud? Both Bitcoin news offer their own advantages and disadvantages, so the decision is not always easy. IBM wants to link the two technologies by developing a hybrid model of cloud and blockchain.

A general problem is that the Internet is inherently free and restrictions are difficult to enforce. Each participant has practically total freedom. On the other hand, however, it is necessary to implement certain regulations or automate things. If one thinks, for example, of the use case of a car rental company, one could create a platform via the Internet that manages the respective uses and brings drivers together with vehicles. For this, however, it is necessary to develop a secure system that allows access rights to be managed. Authorizations, for example, to open the vehicle must be constantly issued and revoked in order to do justice to the rental operation.

If one were to use a stand-alone cloud solution for this, the provider could manage the data centrally and have full control over it. On the contrary, a blockchain would be the decentralized and largely automated solution, which unfortunately also relieves the retailer of many possibilities for manual control and intervention. A hybrid model between cloud and blockchain could help: The operator would have access to the data he also needs for organisational purposes (insurance, taxes, data protection requirements) and at the same time the daily events would be controlled via the blockchain so that the organisational effort of the car rental could be reduced.

Opinion of the author (Max):

It is pleasing to note that IBM has confirmed its recent interest in the Blockchain by further steps. As one of the few global corporations, IBM itself seems to be working on solutions to develop suitable systems. What was striking about similarly large corporations was that most of them only provided financing for start-ups, but that their own initiative was rarely on the agenda. IBM’s development in terms of blockchain remains exciting and, thanks to the power of the global corporation, is also one of the things worth pursuing.

The Blockchain landscape is very fragmented and characterized by smaller, digital start-ups. However, it is foreseeable that large corporations will also devote more attention to technologies like these in the future.

Posted on Category: IBM.