IBM Goes Live With First Commercial Blockchains

IBM Goes Live With First Commercial Blockchains

By | March 20th, 2017
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Tech giant IBM is set to unveil what it's calling the first "commercial

application" of Hyperledger’s open-source Fabric codebase.


														
							

Previously released in beta and scheduled for official release today, the offering – dubbed “IBM Blockchain” – is formally debuting in front of a group of 20,000 developers at the Interconnect conference. There, its first two major deployments will also be detailed.

One of those is a blockchain identity solution built with SecureKey, in which it will power a public-private partnership that saw six Canadian banks invest $27m. In addition, it will be revealed that a Chinese energy company is using the IBM Blockchain to create an exchange for trading carbon credits.

Currently available on IBM’s BlueMix cloud computing store, the commercial blockchain application will be available on a graded price scale based on the size of the implementation, with startups being charged less than enterprise builders.

The announcement comes after Fabric became the first of several open-source projects to emerge from the Linux Foundation-backed Hyperledger’s “incubation” period into “active” status.

Secured using IBM hardware security modules that cost on average about $10,000 per month for four nodes, IBM Blockchain gives users the ability to spin up blockchain networks with tailored governance models for onboarding new customers, supporting about 1,000 transactions per second, according to a statement.

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Nisheeth Bhakuni