IBM InterConnect has announced the new release of IBM Blockchain, an enterprise-ready blockchain service based on the Linux Foundation’s Hyperledger Fabric version 1.0. The service enables developers to build and host security-rich production blockchain networks on the IBM Cloud, and is underpinned by IBM LinuxONE.
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. The Hyperledger 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 has also released 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 currently on the IBM Cloud.
Marie Wieck, general manager of IBM Blockchain, commented: “IBM has applied decades of experience running the world’s largest transaction systems for banks, airlines, governments and retailers, to build the most secure blockchain services for the enterprise. IBM’s blockchain services are built on IBM’s High Security Business Network and designed for organizations that require blockchain networks that are trusted, open and ready for business.”
IBM’s High Security Business Network offers the world’s most secure Linux infrastructure that integrates security from the hardware up through the software stack, specifically designed for enterprise blockchains by providing protection from insider attacks, the highest certified level of isolation for a commercial system, secure service containers, tamper-responsive hardware security modules and a highly auditable operating environment.
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 and reduce the time required. The new blockchain governance tools assist with setting up a blockchain network and assigning 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 aid developers in translating business needs from concept to actual code, IBM Blockchain includes new open-source developer tools for Hyperledger Fabric called Fabric Composer. Fabric Composer can help users model business networks, create APIs that integrate with the blockchain network and existing systems of record and build a user interface.