December 2, 2016 | Written by: Paul DiMarzio
Categorized: LinuxONE solutions | Open source | Software
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Many types of common business transactions — such as moving goods through a supply chain, or making multi-party contractual agreements — are more complex than they need to be. This is because each party to a transaction maintains their own, private records. Keeping all these records in sync is a time-consuming and inefficient process. Blockchain technology promises to reduce the friction inherent in these transactional interactions with digital ledger technology that offers a validated “single source of truth” that is shared by all.
Watch this video for a primer on blockchain.
While blockchain technology can transform the way companies and organizations do business, a secure blockchain network is critical to avoiding data breaches, fraud loss and security incidents. There are two architectural aspects to consider when thinking about a secure blockchain:
- Choice of fabric on which to base the network
- Choice of infrastructure on which to run that network
You have probably seen the headlines where a bitcoin-derived blockchain network has been vulnerable to hacking and cyberattacks. Some blockchain fabrics are simply not able to deliver the level of security required for high-value business transactions. IBM Blockchain offerings are not built on cryptocurrency-based blockchain fabrics; rather, they are based on the open-source Hyperledger fabric — a project led by the Linux Foundation and contributed to by IBM and hundreds of other companies across the globe to set the standard for true business use of blockchain.
Picking the right fabric is the first step. The high concentration of value inherent in blockchain networks makes them very tempting targets for abuse and exploitation. This is why the IBM premiere cloud-based blockchain offering, IBM Blockchain High Security Business Network on Bluemix, is built on infrastructure that keeps the network safe from insider threats and cyber criminals.
That infrastructure is IBM LinuxONE, a highly engineered Linux system based on mainframe technology that integrates security from the hardware up. This added security protects blockchain networks from unauthorized access and risk on a level of protection clients demand. Specifically, the unique IBM Secure Services Container technology and tamper-responsive hardware security module (HSM) for protecting encryption keys deliver a virtually impenetrable environment for your blockchain network. This ensures:
- There is no opportunity for abuse by anyone holding root-user credentials.
- Encryption keys are protected to the highest commercial standards.
- The entire system is fully protected from malware.
In the upcoming Gartner Data Center, Infrastructure and Operations Management Conference, Ross Mauri, general manager for IBM z Systems and LinuxONE, will lead a panel discussion titled “Making Blockchain a Reality in the Enterprise.” Joining him will be Donna Dillenberger, IBM Fellow at the Watson Research Center, and Alex Tapscott, CEO of Northwest Passage Ventures and co-author of “Blockchain Revolution.”
The speakers will discuss how to unleash the promise of blockchain through a cloud-based infrastructure in a way that meets the requirements for modern critical workloads, including speed, scale and security, and will demonstrate a use case. The session will help you understand blockchain standards and technology that could drive a dramatic streamlining of the world’s underlying processes — for stock trades, supply chains, real estate sales and even the diamond and wine trades.
Join us on Monday, December 5, from 12:30 PM – 1:15 PM at Venetian G at the Gartner Data Center Conference. You can register for the conference at the Gartner website. To learn more about secure blockchain, visit the IBM LinuxONE solutions center.