Programmatic Lunch

IBM introduces enterprise-ready blockchain service for developers

Tyrone Stewart

IBM has released an enterprise-ready blockchain service – using code from the Linux Foundation’s Hyperledger open source collaboration – that will help developers create blockchain networks on the IBM Cloud.

IBM Blockchain is the first enterprise-grade service for developers to be built using Hyperledger Fabric, the first code to be released by the collaboration. Fabric is said to provide a framework for building blockchain networks ‘that can quickly scale as new network members join and transact at rates of more than 1,000 transactions per second’.

"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," said Marie Wieck, general manager of IBM Blockchain. "IBM's blockchain services are built on IBM's high security business network and designed for organisations that require blockchain networks that are trusted, open and ready for business."

IBM says its blockchain can offer protection from insider attacks, secure service containers, tamper-responsive hardware security modules, and more, because of its high security business network.

IBM’s blockchain comes nearly a week after Nasdaq launched NYIAX (New York Interactive Advertising Exchange) – an advertising contract exchange that is deployed in the cloud and runs on blockchain technology.