IBM has unveiled its “Blockchain as a Service,” which is based on the open source Hyperledger Fabric, version 1.0 from The Linux Foundation. “IBM Blockchain is a public cloud service that customers can use to build secure blockchain networks,” TechCrunch reports, noting that it’s “the first ready-for-primetime implementation built using that technology.” From the report: Although the blockchain piece is based on the open source Hyperledger Fabric project of which IBM is a participating member, it has added a set of security services to make it more palatable for enterprise customers, while offering it as a cloud service helps simplify a complex set of technologies, making it more accessible than trying to do this alone in a private datacenter. The Hyperledger Fabric project was born around the end of 2015 to facilitate this, and includes other industry heavyweights such as State Street Bank, Accenture, Fujitsu, Intel and others as members. While the work these companies have done to safeguard blockchain networks, including setting up a network, inviting members and offering encrypted credentials, was done under the guise of building extra safe networks, IBM believes it can make them even safer by offering an additional set of security services inside the IBM cloud. While Jerry Cuomo, VP of blockchain technology at IBM, acknowledges that he can’t guarantee that IBM’s blockchain service is unbreachable, he says the company has taken some serious safeguards to protect it. This includes isolating the ledger from the general cloud computing environment, building a security container for the ledger to prevent unauthorized access, and offering tamper-responsive hardware, which can actually shut itself down if it detects someone trying to hack a ledger. What’s more, IBM claims their blockchain product is built in a highly auditable way to track all of the activity that happens within a network, giving administrators an audit trail in the event something did go awry.
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