IBM on Monday announced the release of IBM Blockchain, which it called the “first enterprise-ready” blockchain service based on the Linux Foundation’s Hyperledger Fabric version 1.0. According to IBM, the service helps developers quickly build and host security-rich production blockchain networks on the IBM Cloud, and is underpinned by IBM LinuxONE , which it called “the industry’s most secure Linux server.”
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. 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 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, IBM Blockchain. “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 blockchain services are designed to help developers create, deploy and manage blockchain networks on the IBM Cloud, and the company was first-to-market with its High Security Business Network services for regulated environments, said IBM in a statement announcing the release of its latest service.
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 on the IBM Cloud today, the company said.
To make it easier for developers to translate 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 quickly build a user interface, according to IBM. Fabric Composer helps automate tasks that traditionally could take weeks, allowing developers to complete them in minutes, the company said.