IBM has launched its updated blockchain offering for the financial, healthcare and government industries, on IBM’s cloud platform Bluemix as well as Docker.
While blockchain is another trend which has been empowered by the transition to cloud computing, the same security concerns persist as with cloud computing as the more senior technology family member. IBM claims the new blockchain offering answers these demands and concerns, while also meeting existing regulatory and security requirements.
“Clients tell us that one of the inhibitors of the adoption of blockchain is the concern about security,” said Jerry Cuomo, VP of Blockchain at IBM. “While there is a sense of urgency to pioneer blockchain for business, most organizations need help to define the ideal cloud environment that enables blockchain networks to run securely in the cloud.”
The blockchain adoption seemingly fits into IBM’s continued quest to transform its business, moving away from legacy technologies and build new fortunes in the cloud. Although IBM could be seen as being slightly slow to the cloud party, it has made positive strides in putting its name forward in the cognitive computing sub-sector (IBM’s Watson), and now blockchain. Industry insiders have told BCN tech giants such as Microsoft are interesting in the potential of blockchain, though IBM are one of the first to make such a solid commitment.
While the company has been demonstrating healthy growth in the cloud market segment, its recent quarterly earnings highlighted the decline of traditional IT technologies. The company’s quarterly earnings declined for the 16th straight quarter though its Strategic Imperatives projects, which include all cloud computing efforts, grew 14% to $7 billion.
From a feedback perspective, we asked BCN readers what they thought of IBM’s cognitive computing technology, Watson, which seems to be gaining healthy media attention. 40% of the industry believes Watson is the industry leader for cognitive computing and 20% say it’s in the pack. 40% believe the media attention is down to a powerful PR machine in IBM’s corporate team.