Blockchain is the tech behind bitcoin and does a shedloads of functions such as recording and verifying transactions. The big idea is that the it can create cost-efficient business networks without requiring central control.
Jerry Cuomo, vice president, Blockchain at IBM, said in a statement that the only problem with blockchain is concerns about security.
“While there is a sense of urgency to pioneer blockchain for business, most organisations need help to define the ideal cloud environment that enables blockchain networks to run securely in the cloud,” he said.
IBM said it is addressing security problems in several ways, including cloud services with the highest Federal Information Processing Standards (FIPS 140-2) and Evaluation Assurance Levels (EAL) in the industry to support the use of blockchain in government, financial services and healthcare.
The technology company also announced the opening of an IBM “Garage” in New York and London. These “garages” are similar to research labs on the blockchain created by several major financial institutions over the past year. IBM’s garages are dedicated to helping clients design and develop their blockchain networks, said Cuomo.
Garages in Tokyo, London and Singapore will also open in the coming weeks to let customers talk to IBM experts on the design and implementation of blockchain for business.